Huobi Global is taking further steps to strengthen its presence in the Russian crypto industry. The company has announced the appointment of Vladimir Demin as its Chief Advisor.
According to an August 21 announcement, Huobi Global has decided to appoint Demin as the company’s chief advisor to assist in the development of its market in Russia. Demin is the CEO of Huobi Russia, a partner of Huobi Global, which operates independently from the parent company.
Russia has long been a positive and vibrant crypto market. Huobi Russia currently has a customer database with over 4,000 users and has a wide array of services such as OTC, spot trading, margin trading, and custody. Its trading volume reached nearly 10% of Huobi Global’s total volume.
According to Demin the market opportunities in Russia for crypto and blockchain are huge. He claimed the experience, technology, and approach of Huobi will help them to develop unique products highly demanded in Russia and the world at large.
Ciara Sun, Vice President of Huobi Global Markets also stated that they are positively impressed with the crypto market in Russia. She said they have built a strong leadership position on the market through their Russian partner. Sun is optimistic that Huobi Global will keep developing the market in Russia for a very long time.
The Huobi Global executive added that they will carefully address the users’ migration issue from Huobi Russia to Huobi Global through an easy one-click-migration option. Sun said Huobi Global will offer a number of benefits and preferential policies to users of Huobi Russia after their successful migration.
Huobi recently announced a crypto savings system that is currently available to selected users in certain jurisdictions. The system will ensure that each individual account will have a 3,000 USDT limit or the equivalent value in BTC. Earlier this week, the company also announced collaboration with MakerDAO and Compound to develop DeFi space.