After being acquired by About Capital Buyout Fund last month, Seychelles-based crypto exchange Huobi has disclosed its global expansion roadmap in a statement to users.
Previously known as Huobi Global, the firm has also dropped the latter word as part of its rebranding strategy.
Photo credit: Shutterstock
The company said it will “ramp up” investments in Southeast Asia and Europe, among other markets with strong user base growth potential. It also looks to recruit talent specializing in blockchain and virtual assets.
With its native cryptocurrency, Huobi Token (HT) – which acts as a loyalty points system – the firm will be exploring strategic mergers and acquisitions of high-quality projects in the market, with HT being used to vote for listings.
The company has also expressed its interest in the Caribbean region, as the firm believes it’s “well-positioned as a virtual assets hub with its welcoming regulatory stance, common law systems, and the use of English language.”
See also: Singaporeans feel ‘betrayed’ by Temasek-backed FTX
It was recently reported that The About Capital Management fund, which acquired Huobi in October this year, was largely financed by Tron protocol founder Justin Sun. The crypto exchange’s co-founder Leon Li had been in talks to sell off his 60% stake in the company since August of this year, with rumors that embattled firm FTX was a likely suitor.
Editing by Miguel Cordon and Arpit Nayak
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
