Among other milestones, 2019 will see the birth of a Huobi-backed stablecoin.
SINGAPORE – January 22, 2019 Despite the current crypto winter, Huobi Group is looking ahead to a significantly warmer 2019 – particularly when it comes to things like stablecoins and the growing appetite among institutional investors for digital assets.
“2018 brought us huge challenges but I’m personally optimistic about the crypto market. I do think we’ll see things get better this year,” Chris Lee, CFO and Board Secretary of Huobi Group, said on Sunday, during an invitation-only event in Singapore. The event was co-sponsored by LiquidStone and attended by more than 150 institutional traders and blockchain professionals.
During his talk, Lee identified a number of priorities Huobi Group will be concentrating on in 2019, including significant upgrades to Huobi’s trading systems, further development of regional exchanges (such as the recently re-launched Huobi Japan), and stablecoins. “This year will be huge for stablecoins and we will be a part of that. Likely Huobi Group will launch its own stablecoin in 2019 in the first half of the year,” Lee said just after his speech.
Lee also identified as a priority for Huobi Group the growing needs of institutional investors. “I think 2019 will be a good time for institutional investors. We’ve really started to see growth in this area,” he said.
Li Huo, Managing Director of Huobi Capital, Huobi Group’s investment arm, echoed that point during his own speech at the event. “When it comes to institutional investment in digital assets, we are still very much in the infant stage. Now that infant is starting to grow up,” he said. Huobi Group began its own efforts to aid that growth in 2018, with the introduction of services like Huobi Prestige Investor Club, which allows API, institutional, and other sophisticated traders to connect and grow; and tailored accounts designed with the institutional investors in mind.