​Huobi announces a strategic partnership with Poloniex

What’s new? The advisory board of the Huobi cryptocurrency exchange has decided to enter into a strategic partnership with the Poloniex trading platform. According to the announcement, the platforms will cooperate on various aspects of business, including the development of the ecosystem of the Huobi (HT) exchange’s token, project connectivity, liquidity sharing, and global regulatory compliance. The ultimate goal of the partnership is to “build the world’s top trading platform and gaining the trust of users.”

Huobi’s announcement

What else is known about the partnership? Starting in December 2022, Huobi’s advisory board will begin evaluating all projects on Poloniex on a monthly basis. The best of them will be listed on Huobi. These projects will also be supported by the exchange and will have access to its users.

Huobi also reported on the gradual establishment of strategic partnerships with the best in the digital asset industry. The exchange’s team stated that the company “is always committed to promoting the development and prosperity of the industry.”

On November 25, analyst Colin Wu quoted sources as saying that Huobi and Poloniex would merge. Later in an interview with The Block, TRON blockchain founder Justin Sun, who owns both platforms, allowed for their merger in the future. However, on November 28, Huobi representatives said that rumors of the merger are “categorically untrue” and that the platforms operate independently of each other.

What is known about Poloniex? It is a centralized crypto exchange (CEX) founded in 2014 and headquartered in Seychelles. The daily trading volume is $27,6 million as of November 30, 14:00 UTC. There are 341 coins and 535 trading pairs available on the platform.

What is known about Huobi? CEX was founded in 2013 in Beijing. It is currently based in Seychelles, it also has offices in Hong Kong, South Korea, Japan, and the US. The platform hosts 654 cryptocurrencies and 941 trading pairs. The daily trading volume is $301,3 million. The native token HT is used to receive fee discounts, as well as additional rewards and bonuses. The asset is trading at $6,88, down by 2,44% in 24 hours. It has a market capitalization of $1 billion.