Huobi, a Singaporean cryptocurrency exchange, has joined the Klaytn Governance Council; an alliance of international institutions responsible for the development of the ecosystem.
Accordingly, the move will boost some of the world’s leading cryptocurrency companies, including Binance, LG Electronics and Kakao.
Sangmin Seo, head of Platform Group at Ground X, said:
“We believe that the contributors (…) are the most qualified to undertake the Klaytn governance.”
“It pleases us that Huobi works with other Council members to jointly run and govern the Klaytn platform, as well as create use cases that can foster the development of the global blockchain ecosystem,” he added.
Huobi, which went live in 2013, operates a premier digital assets business. The company provides a secure platform for millions of customers over 130 countries.
In addition, the Huobi Wallet backs several tokens such as KLAY.
Huobi’s Ciara Sun, vice president of global business, said:
“The new partnership advances Huobi’s mission to make blockchain technology more accessible to users across the globe. The new partnership advances Huobi’s mission to make blockchain technology more accessible to users across the globe.”
It is worth mentioning that the Klaytn Governance Council’s firms are worth a total of 70 trillion won (more than $59.3 billion). Kakao CEO Yeo Min-soo admitted that the Klaytn exchange is growing faster than Facebook’s Libra.
Huobi expands business
Cryptolydian earlier reported that Huobi has inked a partnership with Dubai-based fäm Properties, allowing real estate investors to use cryptocurrencies as a payment option. Huobi will also ensure that those clients’ transactions are legally complaint.
The partnership will enable more stability and liquidity inflows to the real estate market and streamline investments in the UAE. In addition, it will allow fäm Properties to accept payment in cryptocurrencies such as Bitcoin, Ether and XRP.