Huobi forms new team focused on developing institutional products and services
HBUS, the operator of cryptocurrency exchange Huobi.com, is betting big on institutional investors.
The firm announced today that it has formed a team led by Katelyn Mew, a former BlackRock VP and HBUS' current VP of sales and marketing. The new team will develop additional services including token lending, OTC trading, and stablecoin geared at institutional clients.
“Institutional clients are seeking sophisticated trading platforms and a trusted marketplace. Unfortunately, the current landscape is significantly behind the traditional financial services industry," Mew explains. "As more and more institutions integrate digital assets into their portfolios, they’ll need trusted, secure and compliant partners, such as Huobi.com."
"The crypto crash in 2018 actually benefited the industry, creating an environment where only the strongest, most useful projects survived. We see the industry warming up with participation from traditional hedge fund managers, banks such as JPMorgan, and technology giants like IBM. Institutional investors realize that regulations are firming up, and they are paving the way for mainstream adoption,” Frank Fu, CEO of HBUS adds.
HBUS' announcement comes as cryptocurrency exchanges begin to feel the impact of the ongoing bear market. A recent analysis from The Block found a continued decrease in aggregate trading volume across multiple cryptocurrency exchanges.
