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Crypto Exchange Huobi Eyes Hong Kong Expansion, Next Big Destination China?

As Hong Kong seeks to become the crypto hub for Asia once again while adopting crypto-friendly regulations, crypto exchange Huobi is willing to make a move in its market.

Crypto exchange Huobi is seeing this development as an easing of the ban on virtual coins in mainland China. Thus, it could tap this opportunity for smoother access to users. In an interview with Bloomberg TV, Huobi chief Justin Sun stated:

Hong Kong is seen as “as one of the experiment zones for crypto development in China”. That’s “one of our biggest reasons to expand in Hong Kong,” he said.

Huobi further added that Sun’s key regions for business are Malaysia, Hong Kong, and the Caribbean. Last year, Justin sun had spent nearly $1 billion for acquiring a 60% stake in the crypto exchange Huobi.

It was just the last quarter when Hong Kong expressed its desire to once again establish itself as a crypto hub.

(By Bhushan Akolkar)

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