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Huobi Picks Singapore as Its Regional Headquarters

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Tue, 11/30/2021 - 08:44
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Alex Dovbnya
Following its exit from China, Huobi has picked Singapore as its new regional headquarters
Huobi Picks Singapore as Its Regional Headquarters
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Major Chinese cryptocurrency exchange Huobi has chosen Singapore as its new regional headquarters, Bloomberg reports.

The crypto giant also plans to expand its presence in the European market by establishing a regional base in the U.K. or France within the next two years.

After China banned crypto exchanges in September 2017, Huobi set up an entity in Singapore, and the launch of the new headquarters shows that there is no going back.

Earlier this year, Beijing ramped up its clampdown on cryptocurrencies by purging local Bitcoin miners and declaring cryptocurrency transactions illegal in late September.


As reported by U.Today, Huobi scrambled to ban users from mainland China in the aftermath of the clampdown.

In November, the exchange also announced that it would drop users from Singapore by the end of March 2022.

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The move set the stage for Huobi Singapore, a new regulated entity that aspires to be compliant with both local and global regulations.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.