Categories: Bitcoin Business

Huobi Opens Office in Russia, Plans Startup Accelerator and Mining Hotels

Click here to view original web page at

The Russian branch of digital asset exchange Huobi is scheduled to open on Nov. 12 with a Russian-language website and local support services. The global cryptocurrency company wants to support Russian startups and mining projects, in addition to launching an educational program.

Also read: Abu Dhabi Securities Exchange to Create Infrastructure for Cryptocurrency Assets

New Branch to Maintain Russian Call Center

Huobi Global Senior Director Edward Chen and Andrei Grachev, head of the Russian office, announced the launch date during the Blockchain Life conference in Saint Petersburg this week. They revealed that the branch will provide 24-hour online support and maintain a call center with Russian-speaking account managers. Huobi, which is currently the third-largest cryptocurrency exchange by daily trading volume, plans to establish an accelerator for blockchain projects, Russian news outlet Bitnovosti reported. The incubator will look for promising startups in partnership with a network of regional chambers of commerce throughout the Russian Federation.

Huobi’s office will also launch an educational program that will focus on cryptocurrency and distributed ledger technologies. The exchange will cooperate with leading Russian universities and other organizations on the initiative. Plekhanov University of Economics, the oldest Russian business school, and the prestigious Moscow State Institute of International Relations are already among its partners, according to Grachev. Students will be trained in the specifics of digital asset management and taught about the automated and algorithmic trading services offered by Huobi.

The Singapore-based company also intends to participate in the development of so-called mining hotels in Russia. In recent months, the number of these facilities has been growing exponentially, as they offer relatively inexpensive “accommodation” for small mining farms, which tend to be too noisy and energy-thirsty to be housed in offices and homes. Rental rates depend on the power rating of the mining devices. For example, ASIC and GPU rigs can be installed in a Moscow-based hotel for between 1,100 and 3,200 rubles a month (~$17 – $48) plus 5 rubles (less than $0.08) per kWh of consumed electricity.

Global Expansion

The news about the Russian office comes after Huobi’s recent announcement of plans to expand its operations into new cryptocurrency markets around the world, including Africa, South Asia and the Middle East. In October, the company revealed its intention to set up a regional head office in Dubai. Much like the Russian office, the branch in the United Arab Emirates will not only facilitate digital asset trading, but also focus on blockchain project incubation and educational services for customers in the three regions.

The company, which has Chinese roots, revealed earlier this year that it will also launch platforms in the Philippines, Taiwan, Indonesia and Canada, in cooperation with local organizations and companies. Vnesheconombank, a government-owned development bank, is its partner in the Russian Federation.

This past summer, Huobi announced the launch of a new cryptocurrency trading service targeting institutional investors. And in August, it presented Huobi Cloud, a platform that allows other companies to offer digital asset trading services using the existing infrastructure of one of the world’s leading cryptocurrency exchanges.

What do you think about Huobi’s plans for global expansion? Tell us in the comments sections below.

Images courtesy of Shutterstock.

At there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even lookup the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

The Entire Bitcoin Dynamic is Changed by the Lightning Network, Says Samson Mow

Samson Mow, BTCC Exchange’s Founder and Magical Crypto Friends and Blockstream’s present CSO, recently shared his views on Bitcoin’s status… Read More

2 hours ago

Bitcoin History Part 15: Silk Road Is Born

Silk Road launched in February 2011 as the darknet’s first bitcoin-based marketplace. Within four months, it would be the darknet’s… Read More

2 hours ago

Sunday Digest: Bitcoin Price, Pantomime Season, More Craig Wright Lies

Share Tweet Send Share This week, US President, Donald J Trump, decided that he would like to buy Greenland, thereby… Read More

2 hours ago

Bitcoin Twitter Is Daydreaming About a Hong Kong Bank Run

Crypto-fever dreamers cheered as Hong Kong protesters suggested organizing a bank run, but apparently rioters didn't flock to bitcoin. |… Read More

2 hours ago

World Bank issues second tranche of Ethereum blockchain kangaroo bond

'Kangaroo bond' is the name given to a foreign bond, issued in the Australian market and denominated in Australian dollars.… Read More

2 hours ago

What the Theft of a BBC Reporter’s $30,000 in Ethereum Shows About Cryptocurrency

Last week, BBC contributor Monty Mumford lost $30,000 of Ethereum . This came after a logical thought process: invest in… Read More

2 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More