Chinese Exchange Houbi Relocates its Headquarters to the Caribbean

• Houbi Global is moving its business head office from Seychelles to the Caribbean.
• The exchanges’ advisor said the region is a super-friendly crypto community.
• FTX, Binance, and Crypto.com have operating licenses in the Caribbean region.

Huobi Global, a leading Chinese crypto exchange, is migrating its business headquarters to the Caribbean, a crypto-friendly community.

Huobi’s advisor Justin Sun said on Twitter today that moving to the Caribbean has been one of the company’s most important goals due to its super-friendly stance on cryptocurrency. The new headquarter will be in Dominica, a country in the Caribbean, where the exchange will work closely with regulators to establish a crypto infrastructure.

Previously, Huobi Global’s head office was in Seychelles, a country in East Africa. Its migration to Dominica is considered the latest major crypto firm relocating to the Caribbean after the migration of the FTX crypto exchange.

In September 2021, FTX officially moved its headquarters from Hong Kong to the Bahamas after securing regulatory approval in the Caribbean community as a digital assets business. Notably, other large crypto exchanges like Binance and Crypto.com also have a regulatory license to operate in the Caribbean.

In other news, influential Huobi Global executives, including the CEO and CFO, recently left the exchange, according to Colin Wu. Huobi’s newly appointed advisor, Justin Sun, is also the founder of the TRON (TRX) network, one of the world’s largest blockchain DAO ecosystems.

Furthermore, Houbi Global is the 8th largest crypto exchange, with over $600 million worth of trades in the last 24 hours, with a 6.6 rating, according to the market tracking site CoinMarketCap. Binance, on the other hand, tops the list with over $16 billion in transactions in 24 hours, with a 9.9 rating.