Huobi Global onboards Vincent Lau as its new managing director. Lau has been in the blockchain space for a long time, having worked with some of the biggest exchanges in the market before, such as Bitfinex and OKEx.

Huobi Global believes that Lau’s experience will bring benefits to their mission to continuously expand worldwide and enhance their localized operations, especially with their markets in Africa, Middle East, and Southeast Asia, to name a few.

Huobi’s Plan for Global Expansion

Huobi Global is a blockchain asset financial services provider, known for its exchange, trading, and cryptocurrency storage services. It was founded in 2013 and has since grown into a global blockchain firm.

To maintain its plan to expand internationally, it brought Lau to its team amidst the apparent growing adoption of cryptocurrencies. According to Lau:

“Huobi is well positioned to become a global player with its compliance and security-first approach. While Huobi is already established in the Asia Pacific region, there are still many untapped opportunities for the brand both domestically and abroad.”

Vincent Lau

Lau also expressed his anticipation for the company’s plan to bring financial services to more people.

“I look forward to working with Huobi to expand the brand globally and helping bring financial access and opportunities to all communities.”

Vincent Lau

Huobi’s DeFi Thrust

According to Huobi’s release, the exchange plans to enter the decentralized finance (DeFi) market soon and continue its thrust in developing its native, smart contract platform, Huobi ECO Chain. This initiative will be led by Lau as the new managing director.

A part of his new role will also cover the promotion of H-token adoption, Huobi’s Ethereum-based token. These assets will be backed by several other cryptocurrencies on different networks. The use case for the H-token is to function as a bridge between the markets of centralized finance and DeFi.

Huobi Asset Management Gets the Nod of Approval from SFC

Apart from its expansion to the DeFi space, Huobi also worked on launching a new fund for its Huobi Asset Management unit. Yesterday, Huobi announced in a release that they already obtained approval from the Securities and Futures Commission to manage and distribute a 100% virtual asset fund.

Huobi is planning on launching three new virtual asset funds: BTC tracker fund, ETH tracker fund, and multi-strategy virtual asset fund.

“We are confident that our funds could offer one of the most secure and reliable channels for Professional Investors to access this novel asset class conveniently,” Gillian Wu, CEO of Huobi Asset Management, said.