Formerly identified as Pantronics Holdings, Huobi Technology has shifted its focal point from electronic products to crypto.
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Hong Kong-listed virtual asset platform Huobi Technology Holdings has launched a cryptocurrency over-the-counter (OTC) carrier, the firm introduced to Cointelegraph on Wednesday.
Listed on the major board of the Hong Kong Inventory Substitute (HKEX) since 2016, Huobi Technology used to be at the start identified as Pantronics Holdings, an electronic product maker founded support in 1990.
Huobi Technology has been actively spirited into the cryptocurrency change in recent years however operates independently of Huobi Community, the entity that owns the Huobi World cryptocurrency alternate.
The two companies half some shareholders however they’re two separate honest entities, a spokesperson for Huobi told Cointelegraph.
In step with the most up to date announcement, Huobi Technology now permits traders to change crypto via OTC the use of crypto block trading products and companies and fiat currencies admire the U.S. buck. The firm plans to amplify it to the euro, the British pound and the Hong Kong buck within the come future.
Huobi Technology has introduced various crypto products and companies in recent years, now supporting virtual asset management, custody, trust and lending. The corporate holds a big quantity of licenses, alongside side the security and asset management licenses from the Securities and Futures Commission of Hong Kong, to boot to a trust of company carrier provider license in Hong Kong. Huobi Tech has additionally got a retail trust company license within the tell of Nevada via a unconditionally-owned subsidiary.
Amid Huobi Technology’s entry into the crypto change, the corporate’s shares saw a spirited amplify closing year, in short topping above $3 in April 2021, fixed with files from TradingView. The stock subsequently plummeted in a while, losing below $1 in slack 2021.
Somewhat quite lots of crypto-linked HKEX-listed companies admire OKG Technology and BC Technology Community had been additionally falling in slack 2021 amid China’s crackdown on the crypto change enforced in September. On the time of writing, the shares are trading at $0.89.
