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HBUS, the US-based strategic partner of the encrypted China Huobi exchange, has announced the rebranding of its retail service from HBUS.com to Huobi.com. The rebranding was shared in a press release with Cointelegraph on January 11th.
As reported, HBUS has launched as a strategic partner of the Huobi Group – the operator of the large Huobi Global encryption compartment – through a newly established company based in San Francisco "HBUS Holdco, Inc." last June.
Reportedly, the platform will continue to function after its rebranding. With the new license agreement, HBUS.com will migrate to the domain name of huobi.com, while Huobi Global will continue to operate through its existing website, hbg.com.
In addition to officially adopting the Huobi brand, it is now expected that HBUS will benefit from a greater level of technological support from Huobi Global, in particular regarding stability and security features, as well as ensuring access to new market makers.
Founded in China in 2013, the Huobi Group is headquartered in Singapore from the Beijing crackdown on cryptocurrency trade in September 2017. The group revealed for the first time to open an office in San Francisco in January 2018; following the announcement of HBUS in June, the US-based partner exchange service was published in July.
In an effort to compete with key US encryption services such as Coinbase and Robinhood, HBUS soon launched an API oriented towards experienced operators, as well as new embedded talent for business development and compliance work.
Over the past year, the Huobi Group – whose total turnover of subsidiaries has exceeded $ 1 trillion – has continued to vigorously pursue foreign expansion, launching a South Korean subsidiary in April to complement existing operations. in Hong Kong and Japan. In 2018, Huobi also launched an Australian crypto trading platform, opened an office in London and acquired controlling shares in a company listed on the Hong Kong stock exchange, as well as on a Japanese FSA-licensed exchange exchange.
However, in December last year, media reports emerged that Huobi, along with the cryptocurrency mining giant Bitmain, was destined to fire personnel. At the time, Huobi Global commented that they were planning to "optimize" their staff by laying off employees below cost.
A report on the exchange volumes of data researchers at the Blockchain Transparency Institute (BTI) last December implicated Huobi and HitBTC exchange partners in alleged commercial washing practices to artificially inflate volumes, although evidence for both exchanges were less significant than that of OKEx.
Huobi is currently the fourth largest cryptographic exchange on CoinMarketCap from the traded volume traded, seeing around $ 519 million of trade in the 24 hours prior to the time of the press. HBUS is ranked in 170th place, with around $ 65,100 trading during the same period.
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