Huobi US to cease operations on Dec. 15

HBUS, Huobi’s strategic partner in the United States, has announced that it will be ceasing its operations on December 15, 2019.

Headquartered in San Francisco, HBUS went live on July 10, 2018, with over 20 trading pairs. Earlier this year, Huobi Group authorized HBUS to use the Huobi name in the U.S. In March, the exchange had set up a new team focused on institutional products and services.

In its latest announcement, HBUS said:

“We regret to inform you that HBUS will need to cease operations so that it can return in a more integrated and impactful fashion as part of its ongoing strategic layout.

“Our trading services will not be available starting December 15, 2019, 20:30 PT/23:30 ET. Customers will continue to be able to access their accounts to withdraw funds until January 31, 2020, 20:00 PT/23:00 ET.”

The exchange has already stopped accepting deposits and said that “any deposit made after December 16, 2019, will not be reflected in your account balance.”

The announcement follows two months after HBUS moved its website to huobi.us.

It is also not known at the moment as to why the exchange decided to abruptly cease its operations. From what it appears, the ceasing of HBUS’ operations could be a part of its strategic restructuring.

However, it remains uncertain as to when the exchange will resume its services.

Meanwhile, Huobi China was recently in news for its involvement in a national blockchain initiative planned by the State Information Centre (SIC).

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