Huobi opens a new trading platform

According to Financial Magnates, Huobi, the third largest crypto exchange in the world, has created a new cryptocurrency trading platform.

The platform is run by a newly formed San Francisco-based company called HBUS, which wrote in a Medium post this week:

“It is not a “division,” “subsidiary,” or any other type of “affiliate” of Huobi. HBUS is Huobi's exclusive strategic partner in the US.”

The post, which was published on June 6, also states that pre-registration, which will begin on June 10. All users who register between June 10 and June 14 will receive a month of commission-free trading.

Official trading is set to begin on June 15, although the HBUS website states that “incredible demand” may be causing a delay in the launch and invites the public to sign up for a Telegram newsletter where everyone will be notified when registration has started.

Huobi was originally established in China, but in January of this year it first revealed its plans to opening an office in San Francisco. Now the company's headquarters is in Singapore, and the exchange is actively focusing on foreign markets, opening a South Korean subsidiary, as well as announcing plans to open an office in London.

American legislation sets high requirements for crypto exchangers, including In a post this week, HBUS emphasized that all of its employees have been properly “educated” in anti-money laundering and counter-terrorism financing issues, and that they have yet to “take tests” on these subjects.

Earlier this month, Huobi launched cryptocurrency exchange-traded fund(ETF), a type of mutual fund that divides ownership of digital assets into shares. The ETF is powered by a recently launched market index that tracks the 10 most traded cryptocurrencies paired with Tether (USDT). On June 2, Huobi entered into a partnership to create a $93 million China-Korea Blockchain Startup Investment Fund. The purpose of this fund is to promote cooperation between the two countries.

According to cointelegraph