Huobi Group Rebrands Its Crypto Derivatives Exchange Platform Huobi DM To Huobi Futures
Huobi Group has rebranded its cryptocurrency derivatives exchange platform Huobi DM to Huobi Futures to attract more investors.
It has been reported in an announcement that Ciara Sun, the company’s spokesperson and head of Huobi global business, said the new name of the exchange is to signify the growth of the nascent industry into one that is now garnering the interests of both institutional and retail investors.
However, the reports show that Huobi’s derivatives platform has brought in substantial growth for the company in the first quarter of 2020.
Houbi aims to bring in more institutional and retail investors to trade crypto derivatives after rebranding its derivates platform as Huobi Futures https://t.co/DsSaVBsqVn — Cointelegraph (@Cointelegraph) May 18, 2020
It is obvious from the report that why Huobi might be focusing on rebranding and pushing further its derivatives platform, now called Huobi Futures, to a wider audience.
Likewise, the quarterly report said that Huobi Futures experienced an 88.04% hike in the number of institutional investors over the first quarter of 2020, as derivatives trading volume saw an increase of 171.16%, rising from $126.7 billion average quarterly trading volume in 2019 to $343.8 billion in the first quarter of 2020.
Sun also revealed in an interview that institutional investors account for 40% of Huobi’s trading volume.
As per the report, Sun noted that cryptocurrency markets are slowly maturing as more governments around the world take interest in the sector and try to better regulate the industry. This is driving an increased number of institutional investors to participate in the industry.
According to her, people might need more specified guidance from regulatory agencies for larger institutions to trust the crypto space and get more actively involved.
Thus, Sun concluded:
“Larger institutions will not trust under-regulated digital asset exchanges, and we are still five years away from market maturity.”
Source: Cointelegraph | Image: Pinterest
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