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Crypto Giant Huobi Australia-Bound for ‘Knowledgeable and Sophisticated’ Trading

Singapore crypto giant Huobi has announced it has begun trading from Sydney on its new Australian platform, reports the Asia Times.

It has been a huge week for Huobi, the world’s third-largest crypto exchange by trade volume also announced that it has opened registration on its newly created U.S.-based “strategic partner” trading platform.

The new Australian venture has come about following Huobi’s comments that Australian traders are reputed to be well respected. The company will be trading 10 pairs including BTC, ETH, BCH, and LTC in Australian dollars.

The company suggests that Huobi’s billion dollars a day in trade volume can be further boosted with the addition of new trading pairs. Smaller pairs at present include Ethereum Classic (ETC), Power Ledger (POWR), Aelf (ELF), Cortex (CTXC), Data (DTA) and IOST with more “obscure” pairs to follow.

In another development, tech giant IBM has been expanding into Australasia and has signed a five-year deal security deal worth $740 million with the Australian government. The focus of the deal is to improve the company’s cybersecurity capabilities by employing blockchain related technologies.

IBM Australia and New Zealand managing director David la Rose says that the deal is a testament to their 40-year partnership with the Australian government, adding, “We look forward to helping the Australian government to re-define the digital experience for the benefit of all Australians.”

The new deal can be seen very much as a rebuilding of trust between IBM and the Australian Government which has recently been dented by the company’s 2016 national census survey receiving four “distributed denial of service” notices at the time, which temporarily shut down the service. IBM agreed to pay the Australian government more than A$30 million ($US20 million) in compensation.

Huobi’s latest US cryptocurrency marketplace comes via a San Francisco-based company called HBUS, which will support nine cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH), Tether (USDT), DASH, Civic (CVC) and TrueUSD (TUSD), according to Cointelegraph.

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