Although Singapore has often been a hot topic among crypto market analysts due to its regulatory issues, Houbi Global has finally chosen the country as its headquarters in the Asian region. In addition, the crypto exchange also has plans to set up another headquarters in Europe.
The report was reported by several crypto information sites citing that the information came from the exchange’s founder, Du Jun that Singapore would be the new headquarters for the company as they were unable to continue operations in China. The closure of the headquarters in China is a string of tough moves by the Chinese government seeking to ban certain sectors in crypto.
It should be noted that Huobi previously had an office in Singapore but its jurisdiction was limited. The decision this time around was to move all operating bases to Singapore.
Du Jun further clarified that the exchange is looking for a regional headquarters in Europe, which may be in France or the UK. Interestingly, Binance is also looking at France as a top option for Binance’s headquarters.
Choosing Singapore as its regional headquarters was a surprising move from Huobi, given the recent regulatory hurdles.
Earlier in November, the company announced that it would discontinue service to Singapore -based consumers on March 31, 2022 following the blockade. However, with this decision, it is seen that he no longer pursues that desire.
