Huobi’s US Crypto Affiliate HBUS Forms New Team For Institutional Products

Announcements, News | March 29, 2019 By:

HBUS, the US-based strategic partner of crypto exchange Huobi, has formed a new team that will focus on introducing new products and services for institutional investors.

Headquartered in San Francisco, HBUS is a FinCEN-registered Money Service Business (MSB)that operates a crypto trading marketplace that offers over 20 trading pairs.

The new team will be headed by Katelyn Mew, who is currently heading HBUS’ sales and marketing department, and Oren Blonstein, Huobi’s vice president of technology, formerly of Tora Trading Services and Caspian.

“Institutional clients are seeking sophisticated trading platforms and a trusted marketplace,” Mew said. “Unfortunately, the current landscape is significantly behind the traditional financial services industry. As more and more institutions integrate digital assets into their portfolios, they’ll need trusted, secure and compliant partners, such as Huobi.com.”

HBUS is reportedly considering several potential services for institutional investors, such as token lending, over-the-counter (OTC) trading, and issuing its own stablecoin.

“We set up a new institutional sales and customer service group just to have some focus and resources on this segment of the market where we see a lot of the growth coming from,” said Blonstein. “We’re entering the market now with a real institutional offering, we’re definitely going to be offering some new products and services.”

HBUS CEO Frank Fu said that the group will interact with top investors and is currently looking for more members with a strong background in financial services.

“The crypto crash in 2018 actually benefited the industry, creating an environment where only the strongest, most useful projects survived.” Fu said. “We see the industry warming up with participation from traditional hedge fund managers, banks such as JPMorgan, and technology giants like IBM. Institutional investors realize that regulations are firming up, and they are paving the way for mainstream adoption.”