What are the approaches of Huobi’s New Digital Assets Exchange?

Huobi is currently the world’s third largest crypto currency exchange in terms of trade volume, with offices in Singapore, U.S., Japan, South Korea, and Hong Kong.

In June-2018, the company partnered with JD Cloud, a subsidiary of China's largest online retailer JD Group, to explore Blockchain technology applications and cloud computing, focusing on financial services, Internet of Things (IoT), and supply chain fields.

Huobi Group has announced the launch of a new platform, Huobi Cloud that will allow users to build digital asset exchanges on top of Huobi’s existing platform.

What is the aim of Huobi’s new product?

The new product is aimed at establishing over-the-counter (OTC) and digital asset exchanges. Partners will also be able to use the order integration and wallet systems, as well as the asset management and clearing system of the Huobi Global platform.

“In this era of significant and strong adoption of Blockchain technologies, Huobi is looking to share its expertise and experience with the entire Blockchain ecosystem and through this, develop the industry further to achieve mutual benefits for all stakeholders.”- Leon Li, Chairman of Huobi Group

What are the approaches of Huobi Cloud?

Huobi Cloud comprises of four approaches, including exchange, OTC,operational, and eco-system solutions. The exchange solution supports exchange platform publishing, token-related services, hot and cold wallet separation, a risk-trigger mechanism, and other services. The OTC solution verifies the authenticity of the trading of fiat currencies like U.S. dollars, Hong Kong dollars, Chinese Yuan, and crypto currencies like Bitcoin (BTC), Ethereum (ETH), and Tether (USDT).

“We have elected to put our money and faith in a mathematical framework that is free of legislations and human error.”