Huobi To Build Web3 Finance Hub In Metaverse
By Vishakha Thakur
Huobi conducted its mid-year conference to examine overall progress from the first half of 2023, as well as a development plan for the second half of the year. Justin Sun, Tron founder and Huobi Advisory Board member, gave his unique insights into the growth of the blockchain industry and their mission to build a Web3 finance hub in the metaverse. By doing so, he intends to provide people all across the world the choice of pursuing financial freedom in the metaverse. According to him, public chains serve as the foundation for establishing a financial realm in the metaverse, with exchanges acting as gatekeepers.
Huobi, which was founded in 2013, has expanded from a cryptocurrency exchange into a whole ecosystem of blockchain enterprises that includes digital asset trading, financial derivatives, wallets, research, investment, and incubation, among other things. Huobi serves millions of users globally, with a business presence in more than 160 countries, across five continents.
Well, because of the new regulatory laws in Hong Kong, several crypto firms are entering the market. Huobi, too, is expanding its presence in the Hong Kong crypto market with the opening of Huobi Hong Kong, which opened registration to Hong Kong citizens on June 1, 2023. Huobi was also the first exchange to join the Hong Kong Virtual Asset Consortium.
According to Justin Sun, exchanges, public chains, and stablecoins will form the key core of the blockchain sector. These three pillars of the decentralized financial landscape will have an impact on the industry’s long-term development. The firm is committed to long-term industry development, covering the majority of industry traffic, and becoming a globally prominent Web3 financial center.
Several technology-led companies are also developing product suites that will strengthen the Web3 technology use case. SAP is creating an NFT launchpad to help businesses create unique tokens, offering up new avenues for client involvement and service extension. Deutsche Telekom, Europe’s largest telco by revenue, has joined Polygon as a validator, demonstrating the company’s faith in blockchain as an extension of traditional telecom services. State Street Global Advisors, which administers the market’s largest ETF, is investigating tokenized ETFs. This has the potential to alter the landscape of the ETF market.
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