Amid Huobi Technology’s entry into the crypto industry, the company’s stocks saw a sharp increase last year, briefly topping above $3 in April 2021, according to data from TradingView. The stock subsequently plummeted afterwards, dropping below $1 in late 2021.
HongKong based Huobi Technology has announced its latest crypto service which allows users to trade in cryptocurrency using over the counter (OTC) crypto blockchain.
According to Cointelegraph, Huobi Technology Holdings, a Hong Kong-based virtual asset platform, has launched a cryptocurrency over-the-counter service.
In 1990, Pantronics Holdings was founded as an electronic product manufacturer. Huobi Technology was listed on the Hong Kong Stock Exchange (HKEX) since 2016.
Since the beginning of this decade, Huobi Technology has been actively moving into the cryptocurrency industry, though it is independent of Huobi Group, which owns Huobi Global.
Cointelegraph spoke with a spokesperson for Huobi, who said both companies share some shareholders, but are separate legal entities.
Huobi Technology has announced that it now allows investors to trade crypto via OTC using crypto block trading services and fiat currencies such as US dollars. The firm plans to expand it to the euro, the British pound and the Hong Kong dollar in the near future.
As part of its crypto offerings, Huobi Technology now supports virtual asset management, custody, trust, and lending. The company holds a wide number of licenses, including the security and asset management licenses from the Securities and Futures Commission of Hong Kong, as well as a trust of company service provider license in Hong Kong. Huobi Tech has also obtained a retail trust company license in the United States state of Nevada via a wholly-owned subsidiary.