One of Singapore’s leading exchanges, Huobi has announced an upgrade in its services. The firm said it had upgraded its Huobi derivatives exchanges to Huobi Futures as a result of the attention it is enjoying from investors.
The new upgrade was by Ciara Sun, Head of Huobi Global Business while talking to reporters. The new name of the upgrade alone has shown that we upgraded our derivatives exchanges as a result of the massive patronage by members of the crypto community, the statement read.
Huobi Derivatives to Huobi Futures upgrade associated with Bitcoin Halving
The statement released further buttressed on the point that the upgrade was as a result of the recently concluded Bitcoin halving event that took place days ago.
Derivatives market was said to have seen a USD438 billion volume trade as of last quarter, bringing its trading volume to 22 percent.
The influx of investors on our platform shows that more people around the world are now willing to adopt crypto, which is an exciting prospect. With crypto demands increasing all over the globe, we are looking to help people transition from traditional banking to crypto trade, Sun stated.
Huobi becomes 1st crypto exchange to debut in Japan
The news flying around in previous weeks stated that the Japanese regulations have approved and has given the Huobi exchange the go-ahead to start operations in the country.
With this in mind, the exchange will be the first exchange to operate in the country. The country said they accepted the token into their country because it doesn’t break any laws and complies with all banking and financial regulations.
This will bring a significant boost to the Japanese community and the crypto sphere in the Asian country as well. To date, Japan has only allowed just twenty-five tokens into their country because of fraud and money laundering fears.
Huobi will look to enjoy massive patronage more than before because of the upgrade of Huobi derivatives to Huobi futures.