China-based cryptocurrency exchange Huobi reported that it plans to re-enter the US market after more than 2 years.
Speaking to CNBC, Huobi founder Du Jun said that they have aligned their operations with regulations and that they want to return to the US market.
Will Not Open a Cryptocurrency Exchange in the USA
Jun also stated that they will not open a cryptocurrency exchange in the USA, instead they will turn to other areas such as wealth management.
Huobi founder made the following statements on the subject;
“We tried to enter the US market in 2018, but we pulled ourselves back very quickly because we didn’t have a good management team in the US. I expect asset management to become a bigger business than a cryptocurrency exchange. Cryptocurrency exchange is not a necessary part to enter the US market.”
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