An official announcement on July 24 by the Huobi Group – the operator of the Singapore headquarters Huobi Global – revealed that Huobi Thailand was expected to launch in the third quarter of 2019, offering both crypto-to-regulated crypto and crypto trading. access ramp for fiat money.
Huobi Thailand will use Huobi Group’s Huobi Cloud platform – a product launched in the summer of last year to facilitate the construction of digital asset exchanges based on Huobi’s existing platform.
The resource supports the Group’s global expansion strategy, enabling the development of trading centers with matching, asset management, wallet, and clearing systems established by Huobi Global and would also provide partners access to their liquidity and market data.
The announcement indicates that Huobi Cloud has been implemented to help launch more than 120 exchanges worldwide, in countries that include Russia, the United Kingdom, Hong Kong, Singapore, Indonesia, Canada and Brazil.
This June, the Huobi Group revealed plans to expand its business operations – also with access ramps for crypto to fiat – to Turkey, a country that according to data from the 2019 Statistica World Consumer Survey had the “highest rate high cryptocurrency ownership of all surveyed nations. ”