The fourth-largest cryptocurrency exchange by trading volume, Huobi has announced that it will be launching a subsidiary called Huobi MENA in Dubai. According to a recent blog post, the new subsidiary will serve as a regional head office as the exchange expands into the Middle East, Africa, and South Asia.
Mohit Davar, co-founder of Huobi MENA, confirmed that their services in these new regions will include “OTC trading, token-to-token trading, blockchain projects incubation, community development, and an educational center.”
Additionally, Huobi MENA is in the process of establishing new regional partnerships, starting with AI Trader, who provide artificial intelligence-based crypto trading solutions, with more partnerships to follow.
Huobi is going on the offensive as the race to secure trading supremacy heats up. In May the Singapore-based exchange announced that it was expanding into Canada, then followed with Japan, Vietnam, and Korea. Huobi’s competitors are following close behind. Binance, the world's largest exchange, recently launched a fiat-to-crypto trading platform in Uganda.