Last week Huobi announced the launch of a native crypto trading app targeting the Russian market. Russia is taking a harder stance on tokens – although many exchanges still operate in the market.
Huobi’s new mobile app is now available on iOS and Android. Russian members of the crypto exchange can simply navigate Huobi’s spot market and exchange hundreds of digital assets and cryptocurrencies.
Russia continues to prove its position as one of the major markets in the European region. The exchange aims to expand its presence in developing markets around the world.
Huobi Expands in Russia
While Russian users already represent 10 % of the total spot trading volume of Huobi, the exchange’s vision is to further grow its market share by offering local residents a reliable, secure and transparent mobile trading service.
Ciara Sun, Vice President, Global Markets at Huobi Group stated,
“Despite recent speculation about new crypto regulation in Russia, we’re fully committed to this market and moving full steam ahead to give local users a more intuitive way to buy and trade crypto from their mobile devices.”
The mobile app offers users the ability to connect a large range of trading pairs such as LTC/BTC, ETH/BTC, BCC/BTC, BTC/USDT, etc., and several trading methods, including limit and market orders.
Users can also track real-time pricing, expert candlestick charts, price updates, improved availability of funds and 24/7 customer care service.
This release is also a remarkable point in Huobi’s journey to expand in Russian market. Huobi’s dedication was previously demonstrated through the integration of its partner-operated Russian exchange into the large Huobi Global network.
According to a new study conducted by the crypto-research firm Chainalysis, Russia ranks second in Eastern Europe’s adoption of cryptocurrency, a result closely reflected in Huobi’s spot-business operations.
Sharing her thoughts on this, Sun said that:
“Russia is leading the region in terms of crypto adoption, but it still has a long way to go before it reaches mainstream adoption. With a population of over 144 million people, Russia presents a major growth opportunity for Huobi. For 2021 and beyond, we’re aiming to empower 100 million households worldwide to own digital assets and we see Russia playing a crucial role in this vision.”
Huobi has contributed to the development of the Russian community over the last few years by the time this mobile-app launched. The preparation covers news, correspondence and business communications networks on social media sites such as Twitter and messaging apps such as Telegram.
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