According to a press release sent to Cointelegraph on December 29, the Huobi Group plans to launch the company’s first cryptocurrency exchange – which will be dedicated to EOS – in the first quarter of 2019.
The exchange is reportedly being launched by Huobi Pool, the group’s cryptocurrency mining arm. Cao Fei, CEO of Huobi Pool, described the launch of the EOS exchange as “the next logical step in our support” as EOS Block Producer (BP).
The press release states that the exchange will allow customers to trade the Altcoin EOS against several other cryptocurrencies.
Huobi is currently the third-placed crypto exchange based on volume on CoinMarketCap, with a 24-hour volume of approximately $ 774 million at press time.
As reported by Cointelegraph, the exchange recently announced support for EOS in its derivatives market. The daily traded volume in Huobi’s cryptocurrency derivatives market is also reported to have topped $ 1 billion recently.
The company’s derivatives market had only been launched about a month earlier, in late November. The advantage that the company emphasized in the market presentation at the Cryptofrontiers conference is that clients can take both short and long positions.
EOS was repeatedly criticized for alleged centralization. Recently, Starteos, one of EOS’s BPs, appeared to be publicly offering financial rewards to its token holders in return for their votes. There were also investigations into the EOS ecosystem after Huobi was accused of running a program of corruption.
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