The world’s largest cryptocurrency (Huobi) based in China had to shut down last year as the Chinese government put a ban on cryptocurrency. As reported by several journalists, they moved their base to Singapore, offering their trading platform to international customers.
Following their official launch in South Korea, Huobi plans on featuring 200 coins and 208 trading which also includes BTC, USDT as well as ETH. In addition, Huobi also plans to enable the users to trade cryptocurrencies against Won.
In addition to the launch of an exchange, Huobi also hinted at creating an investor protection fund. This fund will be used to immediately compensate losses that are not caused due to investors. However, it is not clear how large the investor’s protection fund is going to be or how it will be used to compensate users.
As per several reports, Huobi has previously registered with the US government as Money Services Business. And now intends on launching their exchange in the United States following their successful launch in South Korea.