Huobi Group considers a launch of its own stablecoin in 2019 under its plans for further business development.
The company CFO Chris Lee stated at the event held in Singapore this Tuesday that Huobi has big plans for this year with the planned exchange modernization and further global business expansion. He also noted that the trend of stablecoins will gather pace this year, and Huobi will not stand aside from it.
"This year will be huge for stablecoins and we will be a part of that. Likely Huobi Group will launch its own stablecoin," said Chris Lee at the event.
The Huobi stable coin is expected to appear in the first half of the year.
Along with stablecoins, Lee added that huge work will be done regarding further growth and development of the existing regional trading platforms. For reference, the company has lately celebrated the rebirth of its Japanese platform.
In his speech Huobi CFO also highlighted increasing institutional segment, saying that this year seems to be a favourable period for institutional investors with notable "growth in this area" seen already now.
The representative of Huobi investment branch commented on this matter:
"When it comes to institutional investment in digital assets, we are still very much in the infant stage. Now that infant is starting to grow up."
Followings the trend, Huobi Group also supported stablecoins and launched HUSD tool to switch between stablecoins on Huobi platform. It should be mentioned that Huobi stands before other major exchanges thanks to licenses for all key business destinations in its hands.