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Crypto exchange operator Huobi Group announced at the annual Davos forum that it is launching its own crypto brokerage platform.
Called Huobi Brokerage, the platform will offer digital assets trading products and services to Huobi's institutional and high-net-worth individual (HNWIs) clients.
Last November, the company formed Global Institutional Business (GIB) to offer products and services targeted at institutional clients. Huobi Brokerage is the first product to be launched under the initiative.
Ciara Sun, Vice President of Global Business at Huobi Group, noted that institutional investors and HNWIs will be the major contributors to the growth of the crypto economy in 2020 and beyond.
“By introducing institutional-grade products and liquidity solutions that cater to the needs of institutions and eliminate existing barriers, we're aiming to help drive the entire crypto economy forward," she said.
According to a press release, Huobi Brokerage will provide institutional clients with access to high-quality liquidity pools, competitive prices, a regulated fiat channel, and an all-in-one solution for OTC trading. It will enable clients to access real-time trade quotes and instant price locks.
The platform will support high-volume block trades across major cryptocurrencies and stablecoins such as BTC, USDT, HUSD, PAX, TUSD, and USDC. Huobi plans to add support for ETH, EOS, BCH, LTC, and XRP in the first quarter of 2020.
In addition, liquidity solutions available through the platform include over-the-counter liquidity, exchange liquidity aggregation, and customized financing and lending facilities. More services, such as interest rate products, alpha products, and custodian services, are expected to be rolled out in the second quarter of the year.
Meanwhile, Huobi has just joined the Blockchain Turkey Platform (BCTR) to collaborate with local entities on blockchain initiatives. According to Alphan Gogus, Huobi Turkey General Manager, they support the growth of the crypto and blockchain ecosystem worldwide and partnering with the BCTR will help them drive local efforts in a cross-industry approach as they aim to exchange their global expertise and knowledge with key local players.
