The cryptocurrency exchange market witnessed a new launch of Huobi Derivative Market (Huobi DM) at the Cryptofrontiers conference in New York City on November 28 by Huobi Crypto Currency Exchange, a Singapore-based company. (As reported in a press release by Cointelegraph on Nov. 28, 2018.)
In the Cryptofrontiers conference, Huobi Cryptocurrency Exchange emphasized on the ability of Huobi Derivative Marketing (Huobi DM) to engage its customers in cryptocurrency contract trading in both the circumstances when the cryptocurrency rates are facing a rise or a dip. The Huobi DM is laced with tools that should protect the customers against the risks and uncertainties of cryptocurrency exchanges.
With cryptocurrency contract trading at Huobi DM, its customers can buy and sell the digital currencies at an already known price based on a specific time in the future. This shall support both the traders and investors to confidently explore long-term and short-term positions.
Huobi Derivative Marketing is in the beta testing mode. Therefore, currently, it is not available for its customers in places such as the U.S., Singapore, Israel, Malaysia, Hong Kong, etc.
In the early part of November, in order to fulfill the obligation towards the Chinese state, Huobi Group was reported to create a Communist Party branch, Beijing Lianhuo Information Service (BLIS). Huobi Group became the first ever Chinese cryptocurrency exchange business to abide by this tradition. This was done because as per Chinese law, a company which has three or more than three Communist Party member employees, must set up its own branch. However, this practice has been seen getting limited to state enterprises.
Earlier in October, Huobi made another announcement that it aims to boost the company’s trade and popularity even further. Therefore, Huobi announced the creation of the ‘Stablecoin solution.’ The Huobi Group refers to this project as ‘HUSD.’ HUSD consists of Huobi created Stablecoin assets. An investor or a trader can use these Huobi created Stablecoin assets to interact with U.S. dollar supported Stablecoins that currently exist on the exchange. In the future, HUSD can be traded with several cryptocurrencies such as Stablecoin Tether (USDT), Bitcoin (BTC) and Ethereum (ETH).