The Huobi Group empire has officially entered into yet another market. This time, it is by way of Australia, after Thursday saw the Huobi Australia cryptocurrency exchange go live.
In their announcement, Huobi Australia confirmed that the exchange “will officially start trading at 10:00 AM (AEST), 5th of July.” They then revealed that a total of ten local fiat-to-crypto trading pairs were to be opened progressively, over the course of Thursday (10:00 – 17:00).
In order of opening, the following cryptocurrencies are being paired against the Australian dollar (AUD): Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ethereum Classic (ETC), Power Ledger (POWR), Aelf (ELF), Cortex (CTXC), DATA (DTA), and IOST (IOST).
Interestingly, seven of these ten cryptocurrencies comprise the Huobi 10 Index (HUOBI 10), an index launched on Huobi Pro in late-May that is vetted for market value, scale, and liquidity.
Huobi Australia notably showed some love to one of the domestically-based crypto projects in Power Ledger. Last October, the initial coin offering (ICO) of Power Ledger’s POWR token – native to their leading peer-to-peer renewable energy marketplace – managed to raise $34 million AUD (~$24 million USD); a then-record ICO raise by an Australian-based project.
Huobi Australia made a point to mention in Thursday’s announcement that they “will open more trading pairs to all users” in the future. Presumably, this implies that markets for BTC and ETH pairings will arrive before too long, and possibly even HT trading pairs – the native exchange token of Huobi.
Partnering with Huobi Group to bring Huobi Australia is Melbourne-headquartered Blockchain Global – the largest blockchain-oriented enterprise in Australia, who provide various resources, globally, in order to help accelerate the development of the blockchain ecosystem.
In the relatively pro-crypto Australia, the new digital asset exchange will be regulated by three federal-level governmental bodies: the Australian Transactions Reports and Analysis Centre (AUSTRAC), the Australian Taxation Office (ATO), and the Australian Securities and Investments Commission (ASIC).
— HuobiAustralia (@HuobiAu) July 5, 2018