HBUS Crypto Exchange To Support Deposits And Withdrawals In Fiat
The HBUS crypto exchange, a branch of the Huobi trading platform in the United States, has entered into a partnership agreement with the Nevada-based Prime Trust to provide users with the option to deposit and withdraw funds in fiat, CoinDesk reports.
Thanks to cooperation with Prime Trust, Huobi seeks to further expand its influence in the crypto market of North America. HBUS will enable customers to trade in bitcoin, ether, and the Tether stablecoin (USDT) in pair with the US dollar.
The agreement with Prime Trust is just the beginning of the active work of HBUS in spreading influence on the American market, Frank Fu, the company's executive director, stated. According to him, after partnering with institutional clients and creating the necessary structure that will meet all regulatory requirements, the Huobi subsidiary will offer innovative products and financial services to a broader audience. This may involve exchange-traded funds (ETF) and derivatives.
HBUS intends to increase the number of employees three times, to 150 in 2019. It is noted that the attention will also be focused on institutional partnerships.
Currently, about 60,000 Americans and several tens of thousands of Chinese citizens are the customers of the HBUS crypto exchange, and its listing contains the most liquid digital assets.
Earlier, the Huobi crypto exchange announced plans to issue its own stablecoin in 2019.