Australia has gained a dedicated arm of Chinese cryptocurrency exchange Huobi, which begins trading today. Chinese cryptocurrency exchange Huobi has confirmed trading on its new Australian platform begins today, July 5.

The exchange is fourth largest in the world as of press time, with $713 million in daily trade volume, according to Coinmarketcap. In an announcement, Huobi, which last week also unveiled its London-based operation serving the European market, said trading pairs would be phased in throughout Thursday from 10am Sydney time.

Ten pairs will initially be on offer for Australian dollar, including Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash. “In the future, Huobi Australia will open more trading pairs to all users,” the exchange added in its announcement.

Huobi’s enthusiastic push into foreign markets comes as multiple major exchanges pursue a global investor base. Binance, currently the largest exchange in the world with around $1.3 billion in daily trade volume, has moved to Malta, also enabling greater interaction with European users.

The U.S. volume leader Coinbase is similarly planning to set up a dedicated Japanese operation. Like Japan, Australia places stringent requirements on cryptocurrency operators, the latter’s approach to regulation nonetheless coming in for repeated criticism this year and previously. Read more from…

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