Cryptocurrency exchange Huobi adds support for XRP trading to its OTC crypto trading platform

The crypto market continues its downward spiral with no sign of positive momentum anytime soon. Despite the slowdown, however, some crypto exchanges continue to thrive with explosive growth. One of these exchanges is Huobi, a global blockchain asset financial services provider including exchange, trade, wallet, and storage. Back in January, its crypto asset trading service, Huobi Derivative Market (Huobi DM), recently saw its trading volume soar past $20 billion.

As part of the ongoing service to the trading community, Huobi today launched a Ripple (XRP) trading on its Huobi over the counter (OTC) peer-to-peer crypto trading platform, the company announced in news release shared with TechStartups.

“In addition to serving as Huobi Global’s main onramp, Huobi OTC is also our main platform for users who prefer peer-to-peer trading. It’s very important to our overall trading ecosystem,” said Livio Weng, Huobi Global CEO. “The addition of Ripple is a big step forward in expanding our already extensive offering here.”

Huobi OTC will also allow users to buy and sell Bitcoin (BTC), Ethereum (ETH), Tether (USDT), EOS (EOS), Huobi Token (HT), and Huobi’s comprehensive stablecoin solution HUSD. In addition to offering great liquidity via 13 different payment options.

Founded in 2013 Jun Du and Leon Li, the Singapore-based Huobi.com is a global blockchain asset financial services provider including exchange, trade, wallet, and storage. The headquarter is in Beijing, China with international subsidiaries. In August 2018 it became a publicly listed Hong Kong company. Following a 2017 ban on Bitcoin exchanges by the Chinese government, Huobi stopped Bitcoin withdrawals.

Since its launched in 2013, Huobi Group has been financed by ZhenFund and Sequoia Capital. Its accumulative turnover has exceeded 1.2 trillion USD and once became the world’s largest digital asset exchange with a global share of 50%. Huobi Global is currently the world’s eighth largest crypto exchange by daily trade volumes. The company does about $738.6 million in daily crypto trade transaction.

To date, Huobi Group has invested in more than sixty upstream and downstream enterprises. It has established compliance service teams in Singapore, Japan, South Korea, United Kingdom, Australia, Canada, Brazil and Hong Kong to deliver its secure and credible digital asset trading and asset management services to millions of users in over 130 countries.