Houbi, a Bejing based Chinese digital currency trading platform that was founded in 2013, has just opened a new crypto exchange in South Korea where trading has officially started on the 30th of March according to their official announcement. They launched the firms leading subsidiary, Huobi Pro in October, 2017 as a result of the Chinese governments regulation on ICOs and domestic exchanges. Now they are trying to take over the Korean market, which has the world’s 3rd largest crypto user base after the US and Japan.

The new platform features a grand total of 208 markets, including 77 ETH, 98 BTC and 33 USDT markets and will soon offer KRW markets as well. There are 100 supported altcoins for now, which number we expect to increase within the future.

The history of South Korean crypto regulations was an adventurous one, the government has previously considered a complete ban of cryptocurrencies, which has been revoked later on by the Presidential office, due to a petition that attracted more than 55,000 South Koreans who joined according to Reuters. Later on The Korea Times reported that the country is going to allow ICOs with new regulations and there are still 12 exchanges operating within the country, worth mentioning that six major banks are supporting them.

Huobi Pro is amongst the major ones; by trade volume it is the 2nd biggest with a current 24 hour volume of $1,145,194,161 at the time of writing, as seen to Coinmarketcap. Let’s see if they can turn the South Korean crypto scene upside down.