Huobi, popular Singapore-based cryptocurrency exchange, has just rebranded its derivatives exchange to Huobi Futures, as derivatives are seeing more interest from investors.
According to a press release, this change was announced by the spokesperson and head of Huobi Global Business, Ciara Sun. “The new name underscores the evolution of the crypto derivatives market from a nascent industry to one burgeoning with new interest from both institutional and retail investors,” the release reads.
The release goes on, claiming that this increase in derivatives interest is partly due to the Bitcoin Halving. That, and derivatives markets trading volume hit $438 billion last quarter, which made up for 22% of all trading volume. This was largely due to institutional investors, the release claims.
Speaking on the matter is Sun herself, stating:
“The last few quarters have been particularly exciting for the crypto derivatives market, but I’m more excited that the increased activity we’re seeing today may be a catalyst for widespread crypto adoption. Rising demand for crypto derivatives from both institutional and retail user bases signifies growing acceptance of digital assets and a maturing market, so we’re positioning Huobi Futures to bridge the gap towards traditional financial markets.”
In other news, as InsideBitcoins has previously reported on, Huobi’s token received approval from the Japanse FSA, making it the first international exchange to have a token in the country.
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