Huobi global expands into Russia to launch its new trading app

Quick take

1 minute read

• Huobi is getting ready to expand into Russia as one of the biggest crypto platforms in the world and will be rolling out its native mobile application in the nation in the near future. 

• Russian users will now be able to get involved with the spot market and trade major cryptocurrencies on the exchange through its mobile app as was announced by the company earlier this week.

Huobi Global is getting ready to expand into Russia as one of the biggest crypto platforms in the world and will be rolling out its native mobile application in the nation in the near future. 

Russian users will now be able to get involved with the spot market and trade major cryptocurrencies on the exchange such as bitcoin through its mobile app as was announced by the company earlier this week on the 23rd of September.

By bringing this application to Russia, the platform looks to expand in one of the biggest and most important markets cryptos has to offer. In fact, Russian user accounts make up around 10% of the overall spot trading volume on the platform.

The vice president of global markets at the group, Ciara Sun has said that the exchange's expansion will help strengthen its position in the Russian market and it will come despite existing issues with crypto regulation in the nation such as the new crypto law on cryptocurrency, as well as the bill on “digital currency“.

She went on to say:

“Despite recent speculation about new crypto regulation in Russia, we’re fully committed to this market and moving full steam ahead to give local users a more intuitive way to buy and trade crypto from their mobile devices.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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