Huobi to Establish an EOS-Based Crypto Exchange

Photo credit: Huobi Global

Huobi Pool, the mining division of Huobi, has expressed its plans to create the first ever crypto exchange dedicated to EOS. At present, EOS is the fifth largest cryptocurrency according to market cap following Bitcoin, Ripple’s XRP, and Ethereum.

The said crypto exchange is slated to launch in the first quarter of 2019. Through EOS’ distributed proof-of-stake (DPos) method, users are able to participate in every decision-making processes and they can freely trade and sell EOS in exchange for other cryptocurrencies.

“As an EOS super node, Huobi Pool has placed its ecological development high on its list of priorities. Launching this EOS exchange is simply the next logical step in our support,” said Cao Fei, the CEO of Huobi Pool.

Since its launch in early 2018, Huobi Pool has been working hand in hand with EOS. The mining division also partnered with block producers to develop Crypto Kylin Testnet, an EOS test chain where different EOS projects can be tested before they become public. Furthermore, Huobi Pool also initiated an EOS community and developed a voting platform for EOS holders so that holders are always informed of node elections.

Finally, Huobi Pool has created “EOS 20 Questions”—a series of animated videos that will help EOS holders in explaining the benefits of owning the currency.

Huobi has been in the business since 2013. In just over five years, Huobi has made itself as one of the industry leaders when it comes to blockchain technology and as a cryptocurrency exchange with approximately ten downstream and upstream enterprises. The company has over $1 trillion USD worth of accumulative turnover every year and the exchange has customers in more than 130 countries.

It’s been a busy winter for Huobi so far since it just launched a crypto derivative market platform, known as Huobi DM. The platform lets users buy or sell digital currencies “at predetermined prices at specified times in the future.”

Huobi is determined to get more people in the game in the near future. As Joshua Goodbody, general counsel of Huobi’s global institutional team, said in an interview:

“Cryptocurrency is a rapidly expanding and maturing market. As part of that maturation, we see more and more sophisticated investors and traders from more established financial markets looking to gain exposure, including institutional players.”