- The new service, Huobi Brokerage, is live in all regions that Huobi exchange is present, except China.
- Huobi Brokerage offers the best order execution by routing clients’ orders to multiple trading platforms.
The parent firm of crypto exchange Huobi, Huobi Group, is branching out into the brokerage business as its focusing on attracting institutional investors. This new service, named Huobi Brokerage, was announced recently at the World Economic Forum in Davos. According to The Block, except China, Huobi Brokerage is now live in all areas where Huobi exchange is present.
Huobi Brokerage is the first product of Huobi’s Global Institutional Business (GIB) wing, a recently launched division that targets institutional investors. As per a press release, since the third quarter of 2019, Huobi has witnessed a 400% growth in institutional clients with 1,700 new investors onboarded.
In the press release, Huobi claimed:
GIB currently has offices in London, Singapore, and Hong Kong and will be a top priority for Huobi in 2020 as it continues to expand globally.
According to a Huobi spokesperson, Huobi Brokerage offers the best order execution by assigning clients’ orders to multiple trading platforms, including exchanges other than Huobi and over-the-counter (OTC) desks. The spokesperson added that though the company has not disclosed the names of any exchanges, it is working with Jump Trading and Alameda Research as its OTC partners.
This move by Huobi will help the firm in capturing high net individuals and institutional investors. Apart from order routing, Huobi Brokerage supports block trading, customized financing, and other solutions.
Huobi Group vice president Ciara Sun said:
2019 brought the first wave of institutional interest, but 2020 is when we expect to see the industry mature with growing demand. As we enter the next phase of crypto, Huobi staking an active role in setting new standards for institutional and retail clients alike.
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