Cryptocurrency exchange Huobi expands to Russia

Huobi Group, the operator of a leading cryptocurrency exchange of the same name, last week launched its first Russian office in Moscow.

The announcement follows a previous report from South China Morning Post in August which said that Huobi Group selected five partners to launch cryptocurrency exchanges in five countries – the Philippines, Russia, Taiwan, Indonesia, and Canada.

In Russia, Huobi Group entered into a partnership with Vnesheconombank (VEB), a Russian government-owned development bank.

According to the official release, Huobi Russia is supported by Huobi Cloud, Huobi's regional exchange partnership program, in partnership with the VEB Digital Transformation Center and Russian experts in the field of blockchain and exchange trading.

"The launch of Huobi Russia will bring the Huobi's leading technology and trading expertise to Russian users," said David Chen, Huobi Senior Business Director. "Huobi Russia gives Russian traders and cryptocurrency enthusiasts access to Huobi's unmatched safety, stability, and user experience."

Huobi Russia CEO Andrei Grachev said that Russian office will also consider providing blockchain and business development services for the local Russian users, such as education, project management, and negotiating deals.

Huobi Russia and Huobi Cloud collaborated with the VEB Digital Transformation Center in the fields of training, legislative & regulatory initiatives, and blockchain research.

"In the field of digital asset trading, Huobi is one of the world's largest digital asset trading platforms, with advanced technology and mature experience, security, and trading experience. VEB will continue to expand and cooperate with Huobi in the fields of development and education,” Demin Vladimir Igorevich, chairman of the VEB Innovation Fund, said.