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Crypto exchange Huobi to expand in Canada

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Huge Cryptocurrency Exchange Huobi will expand its operations in Canada and open a new office in Toronto to gain a foothold elsewhere. the North American market.

The Singapore-based firm made the announcement Friday, noting that the peer-to-peer cryptocurrency trade has surged in the country despite the hostility of domestic banks.

"Canada is becoming a blockchain flagship nation, and Toronto is expected to become one of the next most active blockchain centers in North America. Entering the Canadian market will help Huobi become the leader in blockchain and cryptocurrency innovation, "said Ross Zhang, Managing Director of Huobi Canada.

"We look forward to working with regulators to help the blockchain asset market become more credible so that massive adoption can happen sooner," Zhang added. "The establishment of Huobi's first Canadian offices in Toronto is an ongoing effort to help the chain-block industry become more credible so that mass adoption can happen sooner."

Currently, Huobi ranks as the world's third largest cryptocurrency exchange with a daily volume of approximately $ 1.7 billion in 208 markets, according to data from CoinMarketCap.

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In January, Huobi revealed that she was opening a branch office in San Francisco and two months later she entered the Financial Crimes Enforcement Network (FinCEN) as a money services company (MSB). ) to offer a crypto-crypto. trading services in the US market.

Earlier this week, Huobi Labs, the company's blockchain incubator, announced the signing of a strategic partnership with Tianya Community for the creation of a blockchain fund of $ 1 billion in Hainan Province, China

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The wave of Huobi expansion projects is characteristic of the cryptocurrency trading industry as a whole, which has reaped significant profits over the past calendar year, but is also sailing in difficult regulatory waters.

Binance and OKEx, the two largest cryptocurrency exchanges, each opened an office in the island island blockchain-friendly Malta, while Coinbase would open an office in Chicago to develop its institutional commercial products. Bitfinex, another important stock exchange, plans to consolidate its activities in Switzerland.

Image from Shutterstock

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