In a recent development, Singapore-based crypto exchange, Houbi has revealed that it is seeking a share of the US cryptocurrency market by rebranding HBUS, its US strategic partner.
According to a press release, HBUS has “licensed the Houbi brand and rebranded” its crypto trading platform, and will now be known as Houbi while continuing its operations in the US market.
While Houbi Global will continue to serve the global crypto market, it will change its domain to hbg.com. Any customer who visits the old domain will be redirected to the correct website, where they can carry out their trading activities as usual. On the other hand, HBUS will move its trading activities to houbi.com, which will be available to US customers.
Talking about the rebranding and expansion, Leon Li, Huobi Group Founder and CEO said it makes perfect sense for Houbi to be present in the US.
“From a branding perspective, it simply makes sense to ensure that the Huobi name is present in the United States. This transition will allow Huobi to extend its brand presence around the globe,” Li said.
Houbi is currently the fourth largest crypto exchange by 24-hour trading volume. The exchange, which has its root in China was launched in 2013 and has since then opened offices Korea and Hong Kong with headquarters in Singapore. Houbi also has plans of opening offices in Toronto and San Francisco amid regulatory uncertainty.
The news is mutually beneficial to both partners as HBUS will use Houbi’s expertise, experience, and reputation to increase its trading activities in the US market, without compromising control.
Frank Fu, CEO of HBUS, which was launched last year, sees the news as a great opportunity for his company to grow alongside the Houbi brand.
“The name ‘Huobi’ is a powerful brand in the digital asset world, representing dependability and security for more than half a decade. Leveraging our exclusive partnership with Huobi Group in this way will allow us to grow the Huobi brand together,” Fu commented about the development,” Fu commented.