2 years ago
Formerly known arsenic Pantronics Holdings, Huobi Technology has shifted its absorption from physics products to crypto.
Hong Kong-listed virtual plus level Huobi Technology Holdings has launched a cryptocurrency over-the-counter (OTC) service, the steadfast announced to Cointelegraph connected Wednesday.
Listed connected the main committee of the Hong Kong Stock Exchange (HKEX) since 2016, Huobi Technology was primitively known arsenic Pantronics Holdings, an physics merchandise shaper founded backmost successful 1990.
Huobi Technology has been actively moving into the cryptocurrency manufacture successful caller years but operates independently of Huobi Group, the entity that owns the Huobi Global cryptocurrency exchange.
The 2 companies stock immoderate shareholders but they are 2 abstracted ineligible entities, a spokesperson for Huobi told Cointelegraph.
According to the latest announcement, Huobi Technology present allows investors to commercialized crypto via OTC utilizing crypto artifact trading services and fiat currencies similar the U.S. dollar. The steadfast plans to grow it to the euro, the British lb and the Hong Kong dollar successful the adjacent future.
Huobi Technology has introduced respective crypto services successful caller years, present supporting virtual plus management, custody, spot and lending. The institution holds a wide fig of licenses, including the security and plus absorption licenses from the Securities and Futures Commission of Hong Kong, arsenic good arsenic a spot of institution work supplier licence successful Hong Kong. Huobi Tech has besides obtained a retail spot institution licence successful the United States authorities of Nevada via a wholly-owned subsidiary.
Huobi Technology banal implicit the past 5 years. Source: TradingViewAmid Huobi Technology’s introduction into the crypto industry, the company’s stocks saw a crisp summation past year, concisely topping supra $3 successful April 2021, according to information from TradingView. The banal subsequently plummeted afterwards, dropping beneath $1 successful precocious 2021.
Related: Here’s however the Thai Stock Exchange plans to link crypto with its integer plus platform
A fig of crypto-linked HKEX-listed companies similar OKG Technology and BC Technology Group were besides falling successful precocious 2021 amid China’s crackdown connected the crypto industry enforced successful September. At the clip of writing, the shares are trading astatine $0.89.
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