Huobi Global will open an office in Toronto

The largest crypto platform Huobi is expanding its potential in North America and will open a new office in Toronto at the end of the year, creating another foothold in the North American market.

The Singaporean firm made the announcement on Friday, noting that opening an office in Canada could be the platform's first step in conquering the North American market.

Huobi Canada general manager Ross Zhang is confident that Toronto has the potential to become one of the most active blockchain hubs in North America. Canada has the opportunity to play a key role in the implementation of innovative ideas and projects based on blockchain technology and the cryptocurrency eco-system. This is why presence in the Canadian market is so promising for Huobi.    

In addition, Huobi continues to actively cooperate with regulators to help the cryptocurrency asset market become more reliable. Interaction with government and financial intermediaries helps the development of the developing crypto market and helps the blockchain industry become more secure, Ross Zhang is sure. He noted that he chose Canada as his next destination due to the country's "favorable regulatory environment and the commitment of its policymakers to creating a safe trading environment for investors."

Huobi is the world's third-largest cryptocurrency exchange with approximately $1.7 billion in daily volume, according to CoinMarketCap. USA in 208 markets. The platform allows the exchange of 101 cryptocurrencies through 222 trading pairs.

The expansion into the North American market was announced just a week after the exchange revealed its plans for expansion in Europe, with new offices opening in Europe this year London. In March, the Singapore exchange entered the South Korean market. In January, Huobi announced the opening of a branch in San Francisco, and within two months the US branch of the cryptocurrency exchange Huobi became part of the Financial Crimes Enforcement Network (FinCEN) as a financial services provider (MSB).

The scope of Huobi's expansion plans is typical for the crypto industry as a whole, which over the past calendar year has earned impressive profits and has also significantly expanded the geography of its activities.

Binance and OKEx, the two largest cryptocurrency exchanges, opened an office in Malta, while Coinbase is opening an office in Chicago to build out its institutional trading products. Bitfinex, another major exchange, plans to begin its operations in Switzerland.