x
--d : --h : --m : --s
Get tickets
Verified on Po.et Created with Sketch. Verified on Po.et

HBUS Opens its Digital Currency Trading Platform to U.S. Customers Today

by

        HBUS Opens its Digital Currency Trading Platform to U.S. Customers Today
HBUS Opens its Digital Currency Trading Platform to U.S. Customers Today

HBUS, a virtual currency marketplace and the U.S. strategic partner of Huobi, has begun accepting new registration from U.S. residents, starting today July 6, 2018.

American customers will be able to deposit cryptocurrencies such as bitcoin and ether on its platform. However, users won't be able to trade or make withdrawals until the marketplace goes live on July 10, 2018.

The company, headquartered in San Francisco, aims to promote "an open and competitive market" where traders can choose from a rich pool of "high-quality virtual currencies."

HBUS is the U.S. strategic partner of Huobi, the fourth largest cryptocurrency exchange by trade volume.

Initially founded in China but currently headquartered in Singapore, Huobi has been making plans to penetrate the American market for a while. The exchange has been expanding aggressively into foreign markets, including the Canadian and Brazilian markets. It also launched a cryptocurrency exchange traded fund last month.

Speaking with Bitcoin Magazine, HBUS CEO Frank Fu stated, "Our strategic partner, Huobi, has grown to be the largest digital asset marketplace globally. As investors’ acceptance of virtual currency and digital assets increases, we have seen incredibly high demand in the U.S."

For foreign platforms, an expansion into the U.S. places stringent requirements for them to comply with strict regulation. HBUS, in a Medium post, had stressed its desire to be transparent and trustworthy to both its clients and regulators. The company says "it plans to lead by example" as it has educated its staff on Anti-Money Laundering and Counter-Terrorism Financing. It has also "required them to pass tests" on the subject matter.

Recommended

BitGo Announces New Settlement System for Institutional Clients

Blockchain security company BitGo is launching a new service for institutional clients: a clearing and settlements system that operates off-chain.

Landon Manning

Grayscale Reports $3.2 Million Average Weekly Investments in Bitcoin Trust

In a first quarter statement for 2019, Grayscale Investments reported significant growth in its Bitcoin Investment Trust.

Jimmy Aki

Cartoon: Obstacle Course

Getting the next 100 million consumers to start using cryptocurrencies is going to require simpler access methods.

Ian Foley

Bitcoin Price Analysis: Where Is the Local Top for This Parabolic Run?

The bitcoin market has gone parabolic as we blasted off through two major weekly levels. We are currently testing the $8,000 level and we might see a strong round of selling hit the market that could potentially pull us down to retest the mid-$6,000s. If we manage to crack the overhanging resistance and find support, we can expect to see further price growth.

Bitcoin Schmitcoin