Huobi, one of the world’s biggest crypto exchange is to go back to its home country three years on after it was kicked out.
The Chongqing Municipal Big Data Applications Development Administration and the Yubei District government signed an agreement with Huobi China last Thursday to open new headquarters in the mega-city of Chongqing (pictured above).
Huobi will establish its headquarters in the Xiantao International Big Data Valley – an industrial park that aims to serve as a hub for emerging tech sectors.
Under the Agreement, the three signatories will also work together to create a “blockchain industrial base” in the region, which will include “the creation of demonstration projects, undertaking research work, and creating industry brands.”
Huobi was first founded in China in 2013 by Tsinghua University alumnus Leon Li, but was left hard hit by a ban on bitcoin exchanges and ICOs imposed by Beijing in September 2017.
It subsequently launched operations in Singapore in November 2017, before opening an office in Japan in December of the same year.