As part of its aggressive expansion efforts, Huobi, the third largest cryptocurrency exchange platform in terms of trading volume has opened an office in Russia and will commence operations on the 12th of November, 2018.
This was announced at a conference in St Petersburg earlier this week. The company will be featuring a Russian based website and offering 24/7 online support as well as a local call center with Russian support agents and managers available to attend to customers’ needs.
Huobi is looking to not only penetrate the Russian market and establish a presence in its economy, it’s also looking to help local startups grow as well as encourage mining through the establishment of mining hotels in the country.
Hotel mining has become quite popular in Russia with miners renting out facilities and setting up their mining pools there. This is in a bid to overcome the limitations of mining in residential homes and corporate offices.
It is also considerably cheaper, with the average hotel renting out their facilities for an average of 1,650 rubles per month (about $32.5 per month)
The company’s Russian office is also partnering with the Moscow State Institute of International Relations, the Plekhanov Russian University of Economics and a few other educational organizations to provide learning programs based on distributed ledger, blockchain, digital asset management, and cryptocurrency.
It will also maintain a support center for blockchain startup. The startup program will feature an incubator and accelerator program for blockchain projects, while offering the company an opportunity to partner with promising local startup companies.
Huobi, which initially started with trading only bitcoins, has expanded into trading other cryptocurrency pairs and looks poised to continue with this in the near future. With over $521 million in daily trading volume, Huobi doesn’t seem to be losing steam.
While the company was founded in China, it has since moved its base of operations to Singapore, from where it has expanded to other locations including San Francisco, Dubai, Japan, London, Hong Kong, and South Korea.
They’re also looking to expand into other crypto markets around the world including Canada, Indonesia, Taiwan, Philippines, and Africa.
Huobi also recently announced its plans to provide a special trading service for institutional investors looking to get into the cryptocurrency trading markets. Earlier this year too, the company started campaigning to become an EOS blockchain producer. Like ethereum, EOS is a smart contracts platform, but with far less nodes required to verify transactions.
Huobi doesn’t seem to be stopping in its growth as it conquers more markets, opening offices in multiple countries and coming up with highly innovative programs to help drive their expansion as well as the adoption of blockchain and cryptocurrencies.