Huobi Group, the parent company of cryptocurrency exchange Huobi Global, is expanding to the Middle East by offering the exchange platform as a white-label service.
The firm announced on Thursday that Huobi Cloud, a platform that helps companies build their own exchanges, is now available to the Middle East market. According to a company statement, online payment providers in the Middle East and North Africa (MENA) region can now offer cryptocurrency trading to their existing customers, while leveraging Huobi’s main exchange’s trading pairs and liquidity.
“UAE has shown a great appetite to engage and adopt blockchain technology,” said Huobi MENA office co-founder Mohit Davar. “Huobi, provides a variety of digital asset services globally on a uniform platform for crypto enthusiasts to invest all under one secure, convenient and well-established exchange.”
Meanwhile, Huobi’s long-standing rival Binance has its eye on the same regions. The exchange announced that it now supports fiat-to-crypto trading of Russian rubles. Last month, Binance also added support for the Nigerian Naira.