Representatives of Huobi (one of the largest cryptocurrency exchanges) claimed that they were going to recruit a new development team that would create products and services designed for large institutional investors. The future team will be headed by the current vice-president of the American division of HBUS, Katelyn Mew. Previously, she was vice president of a large investment organization BlackRock. The main tasks of the developers will be:
- creating a lending platform that will work with tokens;
- developing own stablecoin;
- platform for OTC trading (off-exchange trading).
“Institutional clients are seeking sophisticated trading platforms and a trusted marketplace. Unfortunately, the current landscape is significantly behind the traditional financial services industry,” – Mew explains. “As more and more institutions integrate digital assets into their portfolios, they’ll need trusted, secure and compliant partners, such as Huobi.com.”
Frank Fu, CEO of HBUS, believes that last year`s cryptocurrency market collapse was very useful for the future of the industry because due to this, there was a natural selection of projects. That is, only the most necessary and strong could survive.
“The crypto crash in 2018 actually benefited the industry, creating an environment where only the strongest, most useful projects survived. We see the industry warming up with participation from traditional hedge fund managers, banks such as JPMorgan, and technology giants like IBM. Institutional investors realize that regulations are firming up, and they are paving the way for mainstream adoption.”
The development of such tools will allow attracting large investors to the market, which will favorably affect its capitalization.
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