Major cryptocurrency exchange Huobi will expand its operations into Canada and open a new office in Toronto, providing it with another foothold in the North American market.
The Singapore-based firm made the announcement on Friday, noting that peer-to-peer cryptocurrency trading has surged in the country despite hostility from domestic banks.
“Canada is emerging as a leading blockchain nation, and Toronto is set to become one of the next most active blockchain hubs across North America. Entering the Canadian market will help support Huobi to become the leader in blockchain and cryptocurrency innovation,” said Ross Zhang, general manager of Huobi Canada.
“We look forward to working with regulatory bodies to help the blockchain asset market become more credible so that mass adoption can come sooner,” Zhang added. “Establishing Huobi’s first Canadian offices in Toronto is a continued effort to help the blockchain industry become more credible so that mass adoption can come sooner.”
At present, Huobi ranks as the world’s third-largest cryptocurrency exchange, with a daily volume of approximately $1.7 billion across 208 markets, according to data from CoinMarketCap.
In January, Huobi revealed that it was opening a branch in San Francisco, and two months later it registered with the Financial Crimes Enforcement Network (FinCEN) as a money services business (MSB) in preparation for offering crypto-to-crypto trading services in the US market.
Earlier this week, Huobi Labs — the company’s blockchain incubator — announced that it had signed a strategic partnership with Tianya Community to establish a in China’s Hainan province.
Huobi’s flurry of expansion plans is characteristic of the cryptocurrency exchange industry as a whole, which has raked in significant profits over the past calendar year but is also navigating challenging regulatory waters.
Binance and OKEx, the two largest cryptocurrency exchanges, have each opened an office in , while Coinbase is reportedly opening a in a bid to build out its institutional trading products. Bitfinex, another major exchange, is planning to in Switzerland.
Crypto New Media Estonia to Tighten Rules for Licensed Crypto Companies Regulation Estonia, one of Europe’s most crypto-friendly nations, plans to tighten its licensing regime for cryptocurrency companies. The financial authorities in Tallinn want to […]
Privatix, the world’s first decentralized and anonymous peer-to-peer broadband data marketplace, has successfully hit its token sale soft cap.
[Note: This is a press release.]
8,000,000 PRIX tokens was sold to the public, enabling the blockchain-based startup to realize its 3,350 ETH soft cap and signaling community approval and interest in the further development of the platform. Bonuses of 40% were distributed to every buyer in the first 48 hours after the event went live.
is an anonymous, P2P broadband internet connection marketplace aimed at decentralizing the internet. Presently, more than 3.8 billion people are connected to the internet. This number is expected to increase steadily, growing to 5 billion by 2020. However, with increased user base comes increased content creation, consumption, and censorship.
Internet censorship is the total control or suppression of users experience on the internet. It allows Internet Service Providers (ISP) to dictate where users can go and what they can see, hear, do, or even say. This power also provides the ISP with access to the user’s private information and history. Such access violates users’ rights and enables anyone from cybercriminals to third-party companies and organizations to piggyback on users’ data for their own gain.
(VPN) have been touted as the best possible solution for internet censorship and privacy concerns. The service allows users to connect directly to the internet through a secured server that encrypts their data, making it difficult to censor, hack, or intercept traffic. However, this service often comes at an exorbitant price tag, and most are still susceptible to ISP control.
By reducing costs and margins on the VPN consumer market, eliminating middlemen, and enabling users to directly share their broadband connection on a blockchain market, Privatix is set to decentralize the internet and let users monetize their spare internet connection. Users from anywhere in the world can sell their unused internet channels for cryptocurrency or purchase such channels for business and personal purposes.
The network also provides a platform for developers to build decentralized and distributed apps and services such as CDN, business intelligence proxy tools, and anti-censorship SDKs in order to reinforce net neutrality for all.
All transactions between users on the platform are executed by the network’s ERC20 compatible token, PRIX. This token is central to the network’s ecosystem, facilitating the prompt and instantaneous settlement of services. It can be freely exchanged to other currencies.
With 8,000,000 of its fixed 10,000,000 tokens sold already, the ICO is on course to end its campaign on a high note. Unlike other tokens, PRIX tokens cannot be mined, and after the ICO, no more new tokens will be issued. The limited amount of tokens, coupled with the increasing demands for privacy on the internet, will fuel the growth of the cryptocurrency and market value.
Privatix has also released it development road map to the public, highlighting a couple of key innovations planned for future release. This includes:
● Privatix.Agent – a cross-platform application to buy and sell internet channels, which will be released in Q4 2017.
● Ability to buy and sell Proxy/Socks using the APIs for users in 2018, after the launch of its completely decentralized VPN service.
● Privatix.FAAS (Freedom-as-a-Service) and Privatix.Monetize are SDK available for mobile platform developers and slated to be launched in Q1 2019
About the company
develops distributed broadband sharing solution based on a P2P VPN platform. The company possesses more than 10 years of experience in VPN development and services. Among products created by Privatix are: the free VPN service, Privatix.com; VPN services for professionals and organizations– 5vpn.net; and Temp-Mail.org, a temporary mail service with integrated spam filters.
Privatix is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. This press release is for informational purposes only. The information does not constitute investment advice or an offer to invest.
