Huobi offers cryptocurrency trading for US residents, but the market fails to react
|- Cryptocurrency market is a sea of red.
- Huobi enters US market via strategic partner.
Most major coins are sliding amid bearish sentiments. Bitcoin, the digital coin No.1 has lost over 5% since this time yesterday, while Ethereum, the second largest coin by market capitalization, is down 6.7% with the market cap $43.5B against $47.8 on Tuesday. ETH/USD is changing hands at $428 and moving quickly to critical $400. Ripple, the third largest coin with the market cap of $17.4B, is trading at $0.4420, down 4% on daily a basis.
Chinese-based cryptocurrency exchange and blockchain asset solutions provider Huobi has entered the US market via its strategic partner HBUS. US residents have access to its virtual currency trading platform starting from July 10th at 10:00 AM (PT). They have access to 22 different virtual currencies and the full scope of the platform's functionality.
However, HBUS does not currently serve residents in Alabama, Connecticut, Georgia, Louisiana, New York, North Carolina, Hawaii, Vermont, and Washington, according to the press release.
The virtual currency trading platform operates online under FinCEN license as a money services business and represents a separate legal entity from Huobi Group, with its own ownership and leadership.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.