Dec 01, 2022 Frank Stewskid
Huobi announced it will be partnering with Poloniex in its native HT token’s development, liquidity sharing, and legal compliance. Furthermore, Huobi will be auditing Poloniex monthly and may list its top-performing assets.
Huobi 🤝 @Poloniex— Huobi (@HuobiGlobal) November 30, 2022
We're thrilled to announce that Huobi has established a strategic partnership with @Poloniex
We will join together in multiple business aspects:
1. HT development
2. Project connectivity
3. Liquidity sharing
4. Global compliance
More coming soon...
A rumor on the collaboration was being spread last week, due to a connection in both exchanges with Justin Sun – Tron’s founder, but it was initially disproven by Poloniex. Being part of an investment group that acquired Poloniex from Circle in 2019, Justin Sun is currently an advisor to Huobi.
Although Poloniex is the larger of the two exchanges in terms of market share, according to data from Coingecko its daily spot trading volume is only ten percent that of Huobi. Moreover, currently, Poloniex is not available to US users. At the same time, Huobi has seen the launch of numerous initiatives lately, including launching an investment arm named “Ivy Blocks” managing around $1 billion worth of funds, and is currently planning to relocate its headquarters to the Dominican Republic.
Huobi’s official statement on the established partnership ends with an affirmation that the exchange plans to set up more collaborations with leading projects from the industry “promoting the development and prosperity of the industry”.