Huobi Announces the Lauch of Its Fully Regulated OTC Desk

Photo: Huobi Global / Instagram

Huobi Group has officially announced the launch of Huobi OTC Desk. It’s a fully regulated service which is built on Huobi’s Gibraltar FSC-issued Distributed Ledger Technology (DLT) license.

The OTC desk is separate from the peer-to-peer OTC Huobi platform and is targeted at high net worth individuals, high volume crypto traders and institutional investors. To have an opportunity to use the desk you need to meet the requirement related to the minimum size of holdings which should be US$100,000 or equivalent.

Via the new service, its users will have a possibility to conduct both crypto-to-crypto and fiat-to-crypto transactions. It supports transactions those made in US dollars (USD), British pound sterling (GBP), and euros (EUR) made for bitcoin (BTC), Ethereum (ETH), and a range of other cryptocurrencies.

Speaking about their new platform, Jeff Adams, Senior Sales Manager for Huobi Global, said:

“We see a lot of appetite out there from players in more established financial markets when it comes to digital assets but many are still uncomfortable jumping into unregulated trading environments.”

“We also see an unfilled need for services aimed at those looking to make large volume transactions. Huobi OTC Desk is a big step forward to filling both of those needs,” added he.

The launch of Huobi OTC Desk will help Huobi to make a significant step towards becoming a full-service market facilitator in the sphere if crypto asset trading. For many years, OTC used to be a key choice for investors and traders in the traditional finance world. And now such services boast popularity among professional, institutional, and high net worth clients in the crypto industry.

The main peculiarity and advantage of Huobi OTC Desk is the fact that it’s a service that is provided by Huobi Gibraltar. And in its turn, Huobi Gibraltar is known to be one of the first entities being granted with a license under Gibraltar’s purpose-built DLT regulatory framework.

The announcement was made on May 14 in the framework of the “Breakfast with Huobi” meetup held in New York City. The executives from Huobi Group also shared some other updates and future plans for the development of their ecosystem.

It has also become known that the company’s stablecoin HUSD that is pegged to US$1 and backed by a market basket of other stablecoins is being upgraded to HUSD 3.0. As a result, it is expected that a number of new features including futures trading and lending will become available.

What Other Exchanges Offer

Though the launch of its own OTC Desk is a milestone for Huobi, it’s important to note that the company is not a pioneer in this sphere. A number of other major crypto exchanges have already introduced similar services to its users. Among them, we can mention Coinbase, Bittrex, Coincheck and Bithumb.

Published at Wed, 15 May 2019 11:45:05 +0000

July 23, 2017

Virtual Reality Business Networking on The Blockchain

Shares Per Hour, better known as SPH, takes business networking to the next level using the innovation of virtual reality (VR) and blockchain technologies.

[Note: This is a press release.]

You’re probably familiar with LinkedIn, if not, it’s a site where professionals can connect & network with each other through a website and mobile app. These current web and mobile app based services are fast becoming hard to use and outdated. SPH brings new life and excitement to the world of “Business Networking”, incorporating distributed technology that brings people closer together than ever before.

The improvements come from utilizing the three leading technologies in computer science: VR; Blockchain and Artificial Intelligence. Let’s take a more in depth look at how these breakthrough technologies aid in improving coordination, leading to increased productivity and time savings for businesses and everyday life.

Virtual Reality (VR) Virtual Reality Becomes the New User Experience (UX)

Shares Per Hour demonstrates the power of a deeply immersive work space. No longer are you limited to the size of a computer screen or mobile phone. Now your entire field of vision is accessible and functional. Don’t worry about access to your legacy desktops and cell phones, you still have them right there in the virtual office space of your choice.

There’s no need to pull your cell phone out of your pocket, instead, you can instantly see your phone’s screen and resize it however you like in futuristic holographic representations right in virtual reality. The same goes with your desktop screen and even your team members computer screens. Instantly teleport over to your co-worker’s office to collaborate, even at the virtual beach.

SPH expands much further into the VR immersive user experience but we will first explain the foundation that Virtual Reality will sit on, distributed ledger blockchain technology.

Blockchain Allows SPH to Progress Past a Simple Business Networking Project

The blockchain enables smart contracts to be created between parties. After negotiating a deal in the virtual world, users can close the deal with a “virtual hand shake” backed up by a smart contract running on the blockchain. Secure “per hour” payment plans can be set up in place between users.

User studies have shown “per hour” deals are the quickest to close and begin, Workers actually receive payment every hour, in real time, which aids in the workers’ confidence. Employers are protected through the collaborative UX and the reputation system. We will talk more about this in the artificial intelligence section.

Artificial/Virtual Intelligence (AI/VI)

A great thing about the blockchain is the ability to source it for data, collecting and analyzing this public data for future use. Sourcing data is key to creating a useful AI. A top SPH feature using AI is the VR hiring agent or what some people might call a VR head hunter. This is where users go through a more personal and immersive experience describing themselves and their ambitions to a virtual hiring agent who can aid in determining where they best fit into the digital work force.

The same process happens with employers. In the end, AI/VI algorithms are used to match employees and employers together and schedule interviews. AI is not used to do smart contracts between users. Users interact with each other in the virtual world and come to agreements. AI is used to save time and the human interaction is used to make final confirmations on business networking agreements.

For More Information

If you would like to learn more about SPH, visit the official website: https://SharesPerHour.com.

Read the in depth technical blackpaper or view the friendlier overview and demo videos. The ICO token sale is currently under way. It’s free to join the website. We strongly recommend joining the website since registration for the website will close 72 hours prior to the end of the ICO. Only previously registered members will be allowed to participate in the ICO during the last 72 hours.

Images courtesy of Shares Per Hour

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