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  • Writer's pictureDavid Manion

Huobi Mid-Year Conference: Building A Web3 Finance Hub In The Metaverse

Huobi Mid-Year Conference: Building A Web3 Finance Hub In The Metaverse
Huobi Mid-Year Conference: Building A Web3 Finance Hub In The Metaverse

The, Caribbean, June 12th, 2023, Chainwire

Huobi recently conducted its mid-year conference to review the progress of the first half of 2021 and to plan for the second half of the year. Justin Sun, a member of Huobi's Advisory Board, shared his insights on the development of the blockchain industry.

Becoming a Household Name. Huobi Mid-Year Conference: Building A Web3 Finance Hub In The Metaverse

During Q2 2023, Huobi and Poloniex experienced a significant improvement in operational performance compared to Q1, thanks to various factors, including the meme coin frenzy and regulatory crackdowns on other exchanges. However, their total on-chain assets of $4 billion fall behind Binance's $60 billion and OKX's $10 billion. Huobi Mid-Year Conference: Building A Web3 Finance Hub In The Metaverse.

Huobi aims to restore brand confidence, increase platform assets and trading volume, and achieve profitability targets in the next six months. The company is committed to becoming a stronger player and a household name within the cryptocurrency exchange industry.

With months of cost reduction and efficiency improvement efforts, Huobi has overcome survival challenges and will make future decisions based on long-term perspectives. The company prioritizes user needs and doesn't believe in sacrificing user interests for short-term gains. The focus will be on constantly creating value for users while achieving greater business wins.

Crypto Market's Three Pillars: Exchange, Public Chain, and Stablecoin

Huobi has been actively embracing regulations and exploring diverse compliance operations as part of their global compliance strategy. Due to the new regulatory rules, many crypto companies are entering the Hong Kong market, and Huobi is gaining exposure in this market by launching Huobi Hong Kong. This platform allowed Hong Kong residents to register on June 1, 2023. Huobi is also the first exchange to become a member of the Hong Kong Virtual Asset Consortium (HKVAC), and they are continuously communicating with the Hong Kong government to apply for a cryptocurrency exchange license.

According to Sun's analysis, the three pillars for the decentralized financial landscape are exchanges, public chains, and stablecoins. These three pillars will become the main core of the entire blockchain industry and will influence the long-term development in the industry. Sun stated that their mission is to build a Web3 finance hub in the metaverse and give people worldwide an option to pursue financial freedom in the metaverse. Public chains serve as the foundation for creating a financial world in the metaverse, while exchanges play a crucial role as the gatekeepers.

Sun believes that Huobi holds a leading position within the industry. However, Huobi stands out as the sole decentralized financial ecosystem platform with a structure encompassing all three pillars mentioned earlier. The three core businesses consisting of exchanges, public chains, and stablecoins will strive to enhance the user experience from multiple angles. It focuses on long-term industry development, covering the majority of industry traffic, and building a globally influential Web3 financial hub.

About Huobi

Huobi started as a crypto exchange in 2013 but has now become a blockchain ecosystem offering various services such as digital asset trading, financial derivatives, wallets, research, investment, incubation, and more. Huobi has a global presence in over 160 countries and regions across five continents and serves millions of users worldwide. Its development strategies focus on global expansion, technology-driven growth, and using technology for good.

Disclaimer: This is a paid release that was not written by Crypto Online News. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Crypto Online News. Crypto Online News does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

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