The exchange is taking advantage of the growing Russian crypto market.
As part of its Russian expansion plans, Seychelles-based exchange Huobi Global appointed Vladimir Demin as the company’s chief advisor. His main role will be to help develop the company’s market in the region.
According to the announcement, he had previously served as partner and CEO of Huobi Russia.
Demin believes that market opportunities in the country for both crypto and blockchain “are huge”. He hopes to help Huobi Global to expand the high demand for crypto products in Russia.
Huobi Russia’s trading volume reached almost 10% of Huobi Global’s total volume, taking into account that the exchange currently has a customer database with over 4,000 users.
Ciara Sun, vice president of Huobi Global Markets, stated that they’ll provide a one-click migration option from Huobi Russia, following a campaign announcing the brand’s upgrade.
Huobi recently announced a crypto savings system that will be available to a portion of their users. Each individual account will have a 3,000 Tether (USDT) limit — or the equivalent value in Bitcoin (BTC).