HBUS, a virtual currency marketplace and Huobi’s U.S. strategic partner, has begun accepting new registrations from U.S. residents, effective today July 6, 2018.
US customers will be able to deposit cryptocurrencies such as bitcoin and ether to its Platform. However, users will not be able to trade or make withdrawals until the market goes live on July 10, 2018.
The San Francisco-headquartered company aims to promote “an open and competitive marketplace” where merchants can choose from a rich pool of “high-quality virtual currencies.”
HBUS is the US strategic partner of Huobi, the fourth largest cryptocurrency exchange by trade volume.
Originally founded in China but currently based in Singapore, Huobi has been considering entering the US market for some time. The exchange has expanded aggressively into foreign markets, including the Canadian and Brazilian markets. It also launched a cryptocurrency exchange-traded fund last month.
Talk with bitcoin magazineFrank Fu, CEO of HBUS, said, “Our strategic partner, Huobi, has become the largest digital asset marketplace in the world. As investor acceptance of virtual currency and digital assets increases, we have seen incredibly high demand in the United States.
For foreign platforms, an expansion into the United States imposes strict requirements for them to comply with strict standards regulation. HBUS, in an environment Publish, underlined its desire for transparency and trust in both its customers and regulators. The company says it “plans to lead by example” as it has trained its staff to combat money laundering and terrorist financing. He also “forced them to take tests” on the subject.