Huobi Global, one of the largest cryptocurrency exchanges by trade volume, has announced the appointment of blockchain industry veteran, Vincent Lau, as the company’s new managing director.
Lau previously worked as an executive at major crypto exchanges Bitfinex and OKEx, and has worked for global corporations outside of the blockchain sector including e-commerce marketplace Groupon and marketing firm Iclick Interactive.
With Huobi Global, Lau will be tasked with overseeing the firm’s international expansion, strategic development, and localized operations. Huobi hopes to expand in key markets across Southeast Asia, the Middle East, Africa, and the European Union, according to an announcement.
Lau told Cointelegraph he was thrilled to be joining Huobi at a time when digital asset adoption was nearing critical mass and that:
"Huobi is well positioned to become a global player with its compliance and security-first approach. While Huobi is already established in the Asia Pacific region, there are still many untapped opportunities for the brand both domestically and abroad. I look forward to working with Huobi to expand the brand globally and helping bring financial access and opportunities to all communities."
The new managing director will also oversee Huobi’s push into DeFi and will head up overseas development for the firm’s smart contract platform, Huobi ECO Chain, as well as working to promote the adoption of its H-tokens.
Huobi’s H-tokens are assets issued on Ethereum that are “backed by cryptocurrencies from other blockchains,” with Huobi stating the tokens serve “as a bridge between the centralized market and the DeFi market.”
Yesterday, Cointelegrpah reported that a subsidiary of the exchange, Huobi Technology Holdings, had been approved by the Hong Kong Securities and Futures Commission to launch a crypto asset management portfolio. Huobi Asset Management is now looking to launch three funds, pending further regulatory approval.