In fact, the report also mentioned that the company is already in talk with a slew of companies across 10 countries in the MENA region and Africa. Moreover, it aims at launching and accelerating the development of at least two or three of them by the end of this year.
“We cannot go and market our product in a localized manner in over 200 countries. There are certain markets where it is better to partner with somebody,” Davar asserted.
The platform has entered the Middle East and North Africa (MENA) region as a white-label service, a term used when the service of company A will be offered by Company B as if they had made it. The announcement was revealed on Thursday, stating that Huobi’s crypto trading services will now be available in the MENA region for their existing customers. According to Mohit Davar, Huobi MENA office co-founder “UAE has shown a great appetite to engage and
adopt blockchain technology,” adding;
“Today Huobi, provides a variety of digital asset services globally on a uniform platform for crypto enthusiasts to invest all under one secure, convenient and well-established exchange.”
More so, the exchange has been serving its service across the globe via 120 exchanges – few such platforms are Huobi Indonesia, Huobi Russia, Huobi Argentina, and Huobi Thailand.
To precise, Huobi’s service in the MENA region appears in two ways – Cloud-based white-label service and exchange service via API. Huobi MENA’s Mohit Davar also noted that their platform is seeking to partner with institutionalized clients. Notably, the platform is eyeing on credit unions, banks and other institutions that possess a large group of the customer with a die-hard interest in digital assets.
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