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One among the leading crypto exchanges Huobi Global partnered with decentralized exchange aggregator RocketX. The announcement came from the Twitter account of crypto exchange on 26th December 2022. Huobi showcased the excitement following their partnership and cited providing ‘a next-level trading experience’ along with delivering ‘mutual growth’ for users on both the platforms.
Huobi Seeking Opportunities With Collaboration
According to Huobi, the partnership between both the entities is strategic and would be revolving around mutual development. Given the RocketX’s user interface and application programming interface (APIs), the company expects the users to benefit from it while accessing liquidity.
Earlier the crypto exchange started proportionally and now the announcement of integration surfaced. Given this, Huobi Global lifted the transfer fees while transaction in TRC-20 tokens which will last for about a month.
The efforts from the crypto exchange make sense as they come after the users’ trust within crypto firms was on decrease given the recent fall of FTX. These efforts expectedly make a positive impact on the relation with the existing customers. The bear market for several months now has made many entities like Huobi Global struggle throughout.
Crypto Exchange Looking Towards Pi Network
The Seychelles based crypto exchanges also announced to follow Pi Network for further upgrades and positive recommendation. The move was inferred as the Huobi is seeking to enlist the native token of Pi Network as soon as it is available after launch.
In an announcement via blog on 25th December, Huobi noted to the community its commitment of tracking and supporting the best performing and top projects. In the later part of the blog, it mentioned about monitoring Pi Network mainned for further updates and also keeping the project under watch seeking its listing.
Noteworthy is that Pi Network is said to have an active community of more than 30 million users. Currently the network is on the closed mainnet stand and continues to work towards onboarding more users in while implementing its unique and innovative Know Your Customer (KYC) process.
Followed the PoR Trend
Huobi being a major centralized crypto exchange also followed the general trend of auditing and publishing a proof of reserves (PoR) report. The move came in the wake of gaining users’ trust back who were in skepticism with centralized exchanges following the fall of once leading crypto exchange FTX.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
