Huobi launches crypto trading app for the Russian market

Huobi Global, one of the leading cryptocurrency exchanges globally, has launched a cryptocurrency trading app dedicated solely to the Russian market

Huobi released a native mobile app yesterday for cryptocurrency traders in Russia. The cryptocurrency trading app is available for Android and iOS mobile device users.

According to the press release by Huobi, Russians now have full access to the exchange’s spot market, and can trade 100s of digital assets and cryptocurrencies using their simple and intuitive mobile app.

This latest development comes as Huobi continues to expand its global presence. The crypto exchange believes that Russia is one of the leading markets for the crypto space, and it intends to explore the numerous opportunities in the country. At the moment, Russian traders account for 10 percent of the total spot trading volume on Huobi. However, Huobi wants to expand further into the Russian market by providing local traders with safe, professional and transparent trading services in a native mobile format.

Ciara Sun, Vice President for Global Markets at Huobi Group, stated that the company is committed to the Russian markets despite recent speculation that the Russian Government intends to regulate the crypto space. “We are moving full steam ahead to give local users a more intuitive way to buy and trade crypto from their mobile devices,” Sun added.

From the Huobi mobile app, Russian traders can access various trading pairs along with access to different trading methods, such as limit and market orders. The Huobi app will also provide users with professional candlestick charts, price alerts, real-time prices, 24/7 customer support and expedited fund availability.

Huobi had been working on expanding its presence in Russia for a while now. Last month, Huobi Global partnered with Huobi Russia, an independent entity that had been around since 2018. The partnership will see Huobi expand its presence in the country, with Russia regarded as the second-largest cryptocurrency market in terms of adoption in Eastern Europe after Ukraine.

According to Sun, Russia is leading the region when it comes to cryptocurrency adoption. However, it still has a long way to go before cryptocurrencies become mainstream in the country. The population of over 140 million people means that Russia presents a significant growth opportunity for the cryptocurrency exchange.

Huobi intends to continue its global expansion next year and plans to empower 100 million households worldwide to own cryptocurrencies. The cryptocurrency exchange believes Russia plays a huge role in achieving its vision.