China-based bitcoin and cryptocurrency exchange company Huobi announced some big news today, informing of the launch of Huobi.pro, which will serve as a blockchain asset only trading platform.
While Huobi.com is a fiat to blockchain asset trading platform, Huobi.pro will satisfy the cryptocurrency trader’s necessity for diversified digital assets and arbitrage. Huobi.pro plans to launch add-ons such as strategy platform, quantitative trading tools and contract trading in the near future.
Huobi.pro be available internationally as the new exchange is registered in Hong Kong as Huobi Asia Limited HK.
According to Huobi, more than 50% of blockchain asset trading volume is crypto-to-crypto (C2C) trading. Considering this statistic and with recent C2C platform launches by competitors in the space, Huobi felt it was time, as one of the biggest exchange’s in the country, to officially launch Huobi.pro on July 28th (GMT+8).
Upon launch, the following assets will be available: LTC/BTC, ETH/BTC, ETC/BTC, and BCC/BTC.
Key features of crypto-to-crypto trading include:
– Lower cost when exchanging digital assets (i.e. exchanging from LTC to BTC)
– Greater arbitrage opportunity (i.e. arbitrage among LTC/BTC, LTC/CNY and BTC/CNY on Huobi. Reduce the cost of funding, shorter transaction time and increased fund utilization efficiency).
– Opportunities to trade and invest in different digital assets
Huobi on Bitcoin Cash (BCC)
As posted yesterday, Huobi stated that if users have BTC on the exchange before 20:20 (GMT +8) on August 1st, they will be given the equivalent amount of BCC.
Huobi is suspending BTC deposits/withdrawals from 0:00 on July 31, 2017 (GMT+8) considering the potential impact on the BTC blockchain network. The company is recommending to deposit BTC in advance to be able to trade.
If BCC fails to be mined, Huobi.pro will suspend BCC/BTC trading, if the volume is minimal for an extended period of time, Huobi.pro will consider delisting BCC.