Huobi Group, a digital asset marketplace, announced on Friday it is planning to expand into Indonesia with its exchange, which will list 123 tokens and incorporate a two-factor authentication (2FA) to secure each digital asset.
According to Huobi, the Indonesian digital currency exchange will be built on Huobi Cloud platform and will cover the country of Indonesia and will also serve the Asian digital market. Huobi Cloud is described as a one-stop solution, having partners in Russia, Philippines, Taiwan, and Canada. It offers a more efficient way to set up digital asset exchanges in different countries and supports OTC transactions, digital asset transactions, charting tools and gives access to other business units. Speaking about the expansion, Li Huo, Vice President of Huobi Global, stated:
“Huobi Cloud’s entry to the Indonesian market will be able to help drive change in the traditional financial marketplace by providing a channel for small to mid-size enterprises to integrate into the broader financial marketplace. New legislation will come into play that brings cryptocurrencies and the blockchain into the regulatory field.”
Since launching in 2013, Huobi reported it has accumulated more than $1 trillion in transactions and accounts for 50% of the world’s digital asset trading share. To date, Huobi has provided its services to millions of users in over 130 countries. Huobi claims to be one of the largest crypto exchanges in the world but recently some have questioned that veracity of trading volume reported by some of the exchanges.