Huobi Korea Rebrands to “High Block” Signifying Independence

03/14/2023 07:02 • Blockchain Briefs • 156 views

On March 14, Houbi Korea announced today that it would change its name to “High Block” and officially become an independent Korean enterprise.

Houbi Korea changed its name to “High Block

Analysis based on this information:

Huobi Korea, the South Korean unit of the global blockchain and cryptocurrency exchange, Huobi Group, recently announced that it will rebrand and operate as an independent Korean enterprise, “High Block”. The exchange has been functioning as a subsidiary of Huobi Group since its establishment in Korea in April 2018.

The move comes as part of Huobi’s long-term expansion strategy, which aims to establish a localized presence in every major global region. The rebranding will enable High Block to operate as a standalone unit while retaining its technological and expertise support from Huobi Group. The transition is expected to be completed by April 2021.

High Block’s CEO, Kim Hyung-seok, stated that the transformation from Huobi Korea to High Block marks “the restart of exchanges that know the technology and industry better and, therefore, can provide better services.” He also emphasized that High Block is committed to establishing itself as one of the most respected and recognized Korean exchanges by complying with regulatory policies, ensuring users’ security, and offering accessible services.

Huobi Group currently operates and provides services in more than 130 countries and regions, making it one of the leading blockchain and crypto exchanges globally. The group has continuously expanded into multiple regions by establishing localized exchanges, with Huobi Korea being one of them. The choice to transition Huobi Korea into a standalone unit symbolizes the success and progress of the local market.

This bold move is also timely considering the increasing demands for regulations and compliance in the Korean cryptocurrency market. High Block has chosen to make transparency, user security, and compliance their top priority, raising the standards for other exchanges operating in the country.

As the blockchain and cryptocurrency market matures, the rebranding of Huobi Korea to High Block signifies a significant milestone in Huobi Group’s quest to establish a decentralized world of finance. It also highlights the importance of the Korean market in Huobi’s global strategy.

In conclusion, the announcement of High Block’s rebranding is a game-changing moment, and it remains to be seen how it will impact the Korean crypto ecosystem. Nevertheless, it signifies that Huobi Group intends to continue expanding its service offerings and reach across the world.

In summary, Huobi Korea’s rebranding to High Block signifying its independence after years under Huobi Group’s management signifies a crucial step towards decentralization of finance, adding transparency and compliance to their priorities, giving them more room for innovation and market influence.

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Huobi Korea Rebrands to “High Block” Signifying Independence

Houbi Korea changed its name to “High Block

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