Cryptocurrency exchange Huobi, which in the second half of last year was forced to withdraw from the Chinese market due to the repressive policies of Beijing, has decided to compensate for its losses by returning to the US market.
According to Huobi co-founder Du Jun, the company’s business in the US can focus not only on digital currencies, but also on traditional assets.
A Huobi representative has emphasized in an interview with CNBC that “we do not have an urgent need to create only one exchange in North America. We can also enter the US market by creating an asset management company.”
After leaving China, the turnover of the exchange decreased by more than 30%. To keep its Chinese team, the company’s management offered it to go to other countries and work remotely last spring.
Huobi started operating in the US market four years ago, however, the company left the United States in December 2019 due to the lack of good specialists in the US direction.