In a major announcement, Huobi Global buys BitTrade. Huobi Japan Holding Ltd, Huobi Global’s wholly owned subsidiary, just acquired the majority stake of Japan’s BitTrade. Huobi Global owns and operates Huobi, the third largest cryptocurrency exchange by daily trade volume.
Huobi Global Buys BitTrade
— Huobi Global (@HuobiGlobal) September 12, 2018
BitTrade is one one of only 16 Japanese-government approved and regulated cryptocurrency trading platforms. Huobi currently serves millions of users around the world, and with this partnership, Huobi can now infiltrate Japan.
Eric Cheng, Founder of BitTrade, commented on the strategic partnership in the official press release and said:
“We are delighted to be partnering with Huobi, a global leader in the crypto currency industry which continues to grow exponentially. Together, we will leverage on Huobi’s global footprint, excellent management team and advanced security systems to grow BitTrade into a market-leading position in Japan. Having a long-term partnership with an established brand such as Huobi is the right step for BitTrade as we look to continue our rapid growth trajectory.”
Huobi Japan will “aggressively scale up the platform” to provide more user-friendly and professional services, the press release stated.
“Leveraging on BitTrade’s leadership team and its Japanese government-approved license, this is just the beginning as we look to grow BitTrade into the most dominant player in the Japanese crypto currency market,” said Mr. Chris Lee, CFO of Huobi.
Huobi was established back in 2013 and has since become one of the world’s largest digital asset exchanges in the world. Expansion has been at the forefront of Huobi Global’s priorities, and it has established teams in Korea, Hong Kong, Singapore, Australia, the UAE, Luxembourg and now the US.
Huobi seeks to provide compliant, safe, and reliable digital asset services to its customers around the work. To date, Huobi Global has invested in more than ten companies and is making a name for itself in the crypto world for its rapid global expansion.
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