Huobi Bridges Bitcoin with China’s ‘Booming’ Shanghai Stock Exchange
CoinTelegraph spoke with Leon Li, CEO of Huobi — one of China’s ‘Big Three’ bitcoin exchanges — to discuss its new tool connecting bitcoin and the traditional stock market, why the Chinese yuan doesn’t actually comprise 80% of BTC trading, and how Beijing’s new policy is fostering Bitcoin startups in the country. In addition to Huobi’s recent partnership with “China’s MIT,” Tsinghua University, Li confirmed that the exchange is also looking for opportunities in the currently booming stock market and is launching a new trading platform named Caimao that will enable users to mortgage their....
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Huobi has launched a service allowing users to mortgage their bitcoins in return for Chinese yuan (CNY) loans to purchase real shares on the Shanghai Stock Exchange. The platform, Caimao, allows investors disappointed with the recent slump in bitcoin price to put that value to use in an asset class that has grown 125% in the past year. Customers will use the Caimao platform to deposit their bitcoins and also buy and sell individual shares of their choice. They can borrow up to 60% of the BTC deposit value. Funds for borrowing are supplied by a third-party provider. The move takes some....
[Update 11am GMT: The Bitcoin price has been soaring in the past few hours seemingly due to an influx of buying in China. Chinese exchanges Huobi and OKCoin have seen bitcoin trading for US$350 and US$380, respectively, compared to ~US$286 on Bitfinex and elsewhere.] China’s stock market woes have been part of the reason for bitcoin’s recent rise in price. Considering the country’s dominance in bitcoin trading, continuation of falling stocks could fuel another record boom similar to what occurred back in late 2013 when the price soared beyond US$1,000. The Shanghai and the Shenzen have....
China’s ongoing crackdown on cryptocurrencies has forced Huobi exchange to halt derivatives trading services to users in China. As per an updated User Agreement from the Seychelles-based exchange, China is now on the list of prohibited jurisdictions for derivatives trading. Crypto users in the country can still access the exchange for spot trading. Huobi Ban […]
News from China is once again spreading through the bitcoin world like wildfire. It appears China’s central bank the People’s Bank of China (PBOC) is visiting with the top three Chinese exchanges and assessing each companies operations. Per usual on negative rumors from China the price of bitcoin took a dive during the early hours of January 11 dropping....
As one of China’s “big three” bitcoin exchanges, Huobi (huobi.com) has been responsible for processing a significant chunk of trading volume, particularly as of late. With over 90% of BTC trading conducted with Chinese Yuan (CNY), the Beijing-based exchange is undoubtedly an important player in the Bitcoin economy. Bitcoin.com spoke with Huobi CEO, Leon....