Asia DAX Week * day 2
Huobi is one of the largest cryptocurrency exchanges by trade volume - comparable to OKEx and Bit-Z. It was initially aimed at the Chinese market but has since expanded to more than 130 countries. Huobi has a token, Huobi Token (HT), which it issued in January 2018. It is listed on Coin Market Cap as one of the top 100 currencies by market cap. Leon Li founded the company in China in 2013. Li has a financial technology background and was a computer engineer at Oracle before launching Huobi. Huobi functions similarly to other cryptocurrency exchanges. People can buy and sell cryptocurrencies, and the platform makes money by charging a transaction fee. Huobi Tokens (HT) were initially issued in 2018, with a total supply of 500 million. Of that, 300 million were given away as a perk to people who purchased a “points card” on Huobi Pro. As for the rest, 100 million HT is for ‘user rewards and platform operation’, while the remaining 100 million are for team incentives.
The Huobi Token is fuel for the Huobi system. A key way people use it to reduce fees when trading on the Huobi platform. For example, when you exchange one currency for another on the Huobi Exchange, you are charged a 0.2% fee. However, if the currency you are exchanging is the Huobi Token, you are charged a lower fee. This is especially attractive to high volume traders. Huobi isn’t content with just being a cryptocurrency exchange. It recently launched futures trading through its own derivative market. The goal is to create the world’s most technologically sophisticated chain. The advisory board includes Randi Zuckerberg, the older sister of Facebook’s Mark Zuckerberg. Once the blockchain is launched, the Huobi Token will be migrated to it. Huobi also wants to have a greater presence worldwide, which is why it announced expansion plans for the Middle East, Africa, and South Asia regions.
PDAX is a digital currency exchange that enables trading and settlement against the Philippine Peso. PDAX is a cryptocurrency trading platform that was founded in 2017 in the Philippines. It is approved by the Bangko Sentral ng Pilipinas (BSP) to operate as a virtual currency exchange. The PDAX exchange is designed specifically for the Philippine market and lets you buy and sell cryptocurrencies such as bitcoin and other digital assets at the most competitive global market prices using the Philippine Peso (PHP) directly. Driven by its goal to provide an easy-to-use and secure investment platform that is accessible by every Filipino regardless of their social, economic, or financial background, the PDAX company continues to push boundaries to promote the adoption of cryptocurrencies and other digital assets in the country.
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Blocklime Technology SDN BHD is a distributed ledger (DLT) service company based out of Petaling Jaya, Malaysia. Blocklime provides blockchain development, technical consultation, and developers training services. To find out about us please visit: https://www.blocklime.com/
Missed out the live broadcast? Check out the full video here: https://web.facebook.com/Asiablockchaincentre/videos/324453995440883