Huobi Global is looking to take a bigger foothold in the promising cryptocurrency region of Russia after it partnered with Huobi Russia, an entity that has been in place and acting independently since 2018.
The Russian partner will retain the privilege rights to further develop its own digital platforms and solutions as well as use the technologies and liquidity of Huobi Global.
Huobi Russia was officially launched by Huobi in 2018, and has been the only partner of Huobi since then. Huobi is very optimistic about the current Russian market and wants to use the brand of Huobi Global to focus on local market.
After discussing with their Russia partner, Huobi Global decided to appoint Vladimir Demin, the partner and CEO of Huobi Russia as the chief advisor of Huobi Global to assist in the development of the Russian market.
“The market opportunities in Russia for crypto and blockchain are huge and I think that experience, technology and approach of Huobi will help us to develop unique products highly demanded in Russia and in the whole world,” said Vladimir Demin.
According to Ciara Sun, Vice President of Huobi Global Markets, Huobi Global will carefully address the users’ migration issue from Huobi Russia to Huobi Global through an easy one-click-migration option on site after along with the campaign in brand upgrade.
“Huobi Global will offer a number of benefits and preferential policies to users of Huobi Russia after their successful migration,” Sun further added.
“We are positively impressed with the crypto market in Russia and thanks to our Russian partner we have built a strong leadership position on the market. I am absolutely sure that we will keep developing the market in Russia for a very long time.”
Russia has long been linked as a positive and vibrant cryptocurrency market. In fact, the trading volume from Huobi Russia alone reached 10 percent of Huobi Global’s. The region also contains currently 4,000 customers and has a wide range of services such as OTC, spot trading, margin trading, and custody.