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Huobi Global Announces New Measures To Boost Russia Presence

Huobi Joins Chinese Blockchain Alliance with China Telecom and Others

Huobi Global, a Seychelles-based crypto exchange, has now appointed one Vladimir Demin as the chief advisor of the company. This comes as part of the company’s plans of expansion within Russia. From his new position, Demin’s main role will be to serve as an aid in developing the market of the company within the region at large.

Demin Set As Advisor For Huobi Global

As the announcement stipulated, Demin had previously served as the CEO and partner of Huobi Russia before being appointed to his new position.

Demin gave a statement about the matter, stating that he is convinced that there are huge market opportunities for blockchain and crypto within Russia. As it stands now, Demin hopes to help Huobi Global in expanding to meet the high levels of demand for crypto products present within the country. He highlighted Huobi Global’s approach, experience, as well as technology. Demin explained that it has the potential to develop unique products that will see a large amount of global demand, as well as Russian demand in particular.

Credit: Wired

The Mandatory Kind Words

As it stands now, Huboi Russia managed to constitute almost 10% of the total trading volume of Huobi Global. It should be noted, however, that the exchange has a customer base of over 4,000 users within the country, as well.

Ciara Sun stands as the Vice President of Huobi Global Markets, and gave a statement about the matter as well. She explained that they will provide a one-click migration option for Huobi Russia. This comes after a campaign announced the upgrading of the brand itself.

Sun explained that Huobi Global had been impressed with Russia’s growing crypto market. Thanking its Russian partner, Sun highlighted how it already has a strong position of leadership within Russia’s crypto market. Sun stated that she was certain that Huobi would continue development within Russia’s market for a long time.

Capitalizing On Potential

Recently, Huobi had announced that its crypto savings system would be made available to a select portion of their user base. Each of these individual accounts will have a limit of $3,000 in Tether (USDT), or the equivalent value in Bitcoin at the time.

This all comes as Huobi Global is seeking to strengthen its grip within Russia, rebranding Huobi Russia, an independent partner since 2018, to Huobi Global. Huobi Russia will retain its privilege rights to develop its own solutions and digital platforms, as well as to leverage the liquidity and technologies Huobi Global has to offer.

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      A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications.