Huobi is one of the biggest exchanges in the world, currently ranked fourth as of press time, with almost $713 million in daily trade volume.
In their announcement, the firm, which a week ago also unveiled its London-based exchange, says trading pairs would be added in the platform throughout Thursday beginning 10 am Sydney Time.
Huobi says ten pairs will be on offer initially for the Australian dollar. This includes Bitcoin, Ethereum, Litecoin, Ethereum Classic and Bitcoin Cash. The exchange also says they will open more trading pairs in the future.
Huobi’s foray into the international market comes as part of crypto exchanges continue to cultivate a global investor base.
Binance, the world’s largest crypto exchange with $1.3 billion in daily trade volume, has moved operations to Malta, while US giant Coinbase is planning to start up a Japanese exchange.
Australia, like Japan, places strict requirements on operators of crypto exchanges, with Australia’s regulatory stance coming under fire from the crypto sector this year.
Huobi seems unafraid of what some observers think is a hostile regulatory landscape. The firm aims to contribute to blockchain technology in Australia’s economy via its investment subsidiary, Huobi Capital and it’s Global Ecosystem Fund, local media outlet Finder reports.
Huobi Australia’s CEO, Adrian Harrison, is enthusiastic about the move to Australia, praising crypto-traders in the country as knowledgeable and sophisticated. He concludes that:
“For Huobi Group, the move to Australia is a natural fit… We are keen to partner with the growing numbers of Australian blockchain projects looking to list in a maturing market.”