Huobi took to Twitter to announce the listing of three new local cryptocurrencies from Saudi Arabia, Malaysia, and the United Arab Emirates on HuobiOTC.
Huobi, the cryptocurrency exchange based in Singapore, announced the listing of four stablecoins earlier less than a week ago, and now appears to be bolstering its roster with local cryptocurrencies. Huobi is already the third largest exchange by volume, and appears to be attempting to increase its use by expanding an already fairly comprehensive set of listed cryptotokens on their over-the-counter crypto trading platforms into the emerging markets of the middle east and Malaysia.
Both the United Arab Emirates and Saudi Arabia have recently been positioning themselves as crypto-friendly by creating regulatory sandboxes for FinTech and announcing a partnership with Ripple respectively.
For its part, Malaysia reportedly has a strong and growing interest in cryptocurrencies, and its likely that Huobi is responding to the growing demand in all of these regions as well as capitalizing on the strong market in OTC crypto trading.