Despite early denials of a merger, Huobi and Poloniex declared a strategic alliance
The exchanges will gradually work together on the development of the HT coin, liquidity sharing, and global compliance, and Huobi will keep an eye on Poloniex for new projects that should be listed.
On November 30, Huobi and Poloniex declared a strategic alliance. The two bitcoin exchanges were not going to join, according to reports that surfaced last week.
On Huobi’s HT coin ecosystem growth, connectivity, liquidity sharing, and international compliance, the two exchanges would “progressively collaborate.” The Huobi Advisory Board will begin evaluating all Poloniex projects in December, and outstanding performers may be immediately listed on Huobi, according to the exchange.
A tweet from Wu Blockchain signaled the start of merger speculation. The bigger of the two exchanges is by far Poloniex. Users in the United States cannot access it.
This year, there have been a lot of developments on the Chinese exchange. In June, it opened an investment division. Leon Li, a co-founder, said in August that he was selling his stock. In October, Hong Kong-based About Capital acquired a majority stake in Huobi. It refuted rumors of significant layoffs and resignations earlier in November.
According to reports, Huobi intends to move its corporate headquarters to the Dominican Republic.
Huobi announced the creation of an improved affiliates program for influencers on the same day as the merger announcement. This program will provide spot commissions of up to 50% and futures commissions of up to 60%.
About Houbi
Huobi is a Seychelles-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company.
About Poloniex
Poloniex is a cryptocurrency exchange that allows you to buy or sell digital assets, such as Bitcoin (BTC), Ethereum (ETH), TRON (TRX), and other altcoins. The exchange guarantees that users will experience safety and security while conducting transactions.
