What Is Huobi Global?
Huobi Global, now known as HTX as of September 2023, is a Seychelles-based cryptocurrency exchange. Founded in China, the company has expanded globally with offices in Hong Kong, South Korea, Japan, and the United States. It was listed as a public company in Hong Kong in August 2018. HTX processes around US $1 billion in trades daily as of March 2018.
Background
Huobi was founded in 2013 by Leon Li, a Tsinghua University alumnus, and former computer engineer at Oracle. The company raised $10 million in venture capital from Sequoia Capital in 2014. It has experienced significant growth, with daily transaction volumes reaching over 200 billion yuan in December 2016. It acquired other companies, such as Bitcoin wallet provider Quick Wallet in August 2014.
How It Works
In response to the Chinese government’s 2017 ban on Bitcoin exchanges, Huobi has shifted its operations to function as a blockchain consulting and research platform in China. It has also expanded globally, launching operations in Singapore, Japan, and the United States. The company has adapted to regulatory changes, such as China’s ban on initial coin offerings (ICOs) and domestic cryptocurrency exchanges in 2017. In 2023, Huobi announced its rebranding as HTX.
Key Takeaways
- Huobi Global, now known as HTX, is a Seychelles-based cryptocurrency exchange that processes around US $1 billion in trades daily as of March 2018.
- The company was founded in 2013 by Leon Li, a Tsinghua University alumnus, and former computer engineer at Oracle.
- Huobi has experienced significant growth, with daily transaction volumes reaching over 200 billion yuan in December 2016.
- After the Chinese government’s 2017 ban on Bitcoin exchanges, Huobi shifted its operations to function as a blockchain consulting and research platform in China and expanded its operations globally.
- In 2023, Huobi announced its rebranding as HTX.
