According to the Hootsuite and We Are Social UAE digital report for 2019, it is believed that 5.2 per cent of the UAE population holds some form of cryptocurrency. This means that there is a growing interest among people to invest in digital assets.
In light of this, Huobi, one of the world's largest digital assets exchange provider has been encouraged to expand its presence in the UAE and Middle East with its latest range of product offerings. Huobi's Cloud is a one stop customized solution which offers a white label digital assets exchange with access to over 450+ digital asset pairs and trading platforms. There are plans to offer add-ons to the cloud services in the coming months.
On the other hand, CashU is a leading mobile payment provider which recently launched its virtual digital assets trading on its mobile application powered by Huobi. This allows millions of its users to trade Bitcoin, Ethereum and other digital assets directly from a mobile phone.
Other than spot trading, Huobi offers a mix of products to cater to institutional customers. An example of this is Huobi DM, where users can make a profit from the rise and fall of digital currency prices by going long or selling short based on judgement.
According to Mohit Davar, co-founder of Huobi MEA, “UAE has shown a great appetite to engage and adopt blockchain technology. Our core mission is to enable our users to diversify their investments for a better tomorrow. Today Huobi, provides a variety of digital asset services globally on a uniform platform for crypto enthusiasts to invest all under one secure, convenient and well-established exchange.”