Huobi – a former Chinese crypto exchange – wants to re-establish itself in the United States as an asset manager after ceasing operations in the region in 2019. The company expects asset management to be “a bigger business” than the exchange approach.
Return of Huobi
Company co-founder Du Jun revealed Huobi’s new plans in an interview with CNBC on Monday. He said that the exchange initially left the US market due to a lack of commitment and a poor management team in the region. In December of 2019, the company abruptly announced that it would “cease operation so that it can return in a more integrated and impactful fashion.”
However, the exchange recently closed accounts for its existing users in Mainland China following an outright crypto ban in the country last year. It has since taken its Asian headquarters to Singapore, with plans to expand back into the US and Europe.
“Cryptocurrency is a large industry, and exchanges are only one part of this industry, which is ex
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