2 min read

There have been several rumors within the crypto sphere that Huobi Global could be introducing their very own competitor to Binance Launchpad- Huobi Prime.

Today Head of Marketing for Huobi Group, Ross Zhang, tweeted:

This tweet follows on from reports within the Chinese media of Huobi Prime’s new arrival.

News website 8btc earlier reported the impending launch, stating Huobi plans to launch the platform sometime this month.

The report elaborates on Huobi Prime’s different set-up to Binance Launchpad. Whereas the Launchpad proved that Initial Exchange Offering (IEO) could be successful, Huobi Prime will differ in that they plan to say away from that model of fundraising.

Instead, they will rely on various exchanges for completion of the fundraising, a stark difference to Binance’s singular point of purchase.

Huobi CEO, Livio Weng Xiaoqi told the media:

Huobi Prime is a selective token listing channel based on Huobi’s native token HT, and it does not serve as a platform for crowdfunding or for IEOs. Huobi Prime will offer that it will offer an innovative, rapid and compliant token listing service for high-quality crypto projects globally.

The news resulted in bullish price action for Huobi Token (HT), reaching a 3-month high of around $2 at the time of Weng’s statement.

Source