Home News Huobi to Buy Japan’s BitTrade Exchange

Huobi to Buy Japan’s BitTrade Exchange

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Huobi Group(Huobi), a leading major cryptocurrency Exchange operator, would acquire a majority stake owned by Japanese cryptocurrency Exchange Bittrade’s owner Eric Cheng via Huobi’s Japan branch further to expand services, along with the global reach, according to the announcements.
Huobi, established in 2013, is one of the global major cryptocurrency Exchanges with an accumulated trading volume of USD 1 trn, and the Exchange has compliance service teams in Singapore, South Korea, Hong Kong, Australia, UAE, Luxembourg among others.    
Huobi’s Chief Financial Officer Chris Lee was cited as saying that (Mr) Cheng is Huobi’s right partner for its global strategy, given his career as an international entrepreneur, along with his global network and passion for the blockchain technology.    
Bittrade, established in 2016, is known as one of the cryptocurrency Exchanges, registered by the Japanese government. Its current tradable currencies include Bitcoin, BitcoinCash, Ripple, Etherum, Litecoin, and Monacoin.
Eric Cheng was cited as saying that a long-term partnership with a global established brand like Huobi would help BitTrade’s rapid growth.
Huobi recently acquired a majority stake in HK-listed electronics company Pantronics Holdings, according to media reports.