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Crypto exchange Huobi’s US arm HBUS sets up new team to launch institutional products

Thu, 28 Mar 2019, 10:03 am UTC

HBUS, the U.S.-based operator of Huobi cryptocurrency exchange, has set up a new team that will focus on rolling out institutional products and services, CoinTelegraph reported.

The new team will be led by Katelyn Mew, who is currently heading HBUS’ sales and marketing department. The other director is Huobi's vice president of technology Oren Blonstein.

“Unfortunately, the current landscape is significantly behind the traditional financial services industry. As more and more institutions integrate digital assets into their portfolios, they’ll need trusted, secure and compliant partners, such as,” Mew told CoinDesk.

HBUS is currently considering a number of potential services targeted at institutional clients, such as token lending and over-the-counter (OTC) trading. The company is also reportedly considering issuing a stablecoin.

Speaking to CoinDesk, Blonstein said that the new institutional sales and customer service group has been formed to have “some focus and resources on this segment of the market where we see a lot of the growth coming from.”

“We’re entering the market now with a real institutional offering, we’re definitely going to be offering some new products and services,” he added.

HBUS CEO Frank Fu said that the group will interact with top investors and is currently looking for more members with a strong background in financial services.

Headquartered in San Francisco, HBUS was Huobi’s exclusive strategic partner in the U.S. and went live on July 10, 2018, with over 20 trading pairs. Earlier this year, Huobi Group authorized HBUS to use the Huobi name in the U.S.

HBUS has money transmission licenses in a number of U.S. states and is registered as a money services business (MSB) with the Financial Crimes Enforcement Network (FinCEN).

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