Just two weeks ago I told you about the presence of Huobi Group in San Francisco, where the rapidly growing and innovating exchange of Huobi Group took their position. Serving 130 different countries, Huobi’s turnover exceeds $ 1 trillion! The overall strategy of Huobi, which includes to create a “Huobi Global presence” brings them to The Middle East & Africa, where their expansion can be continued. In my opinion the most interesting place for cryptocurrency projects at this moment and also a place that needs a different approach, because different laws and religious views.
Huobi Group again found a perfect solution to serve this massive market of 20 countries and 400 million residents; Huobi MENA, an exchange developed and dedicated to the (potential) investors in The Middle East, South Asia and Africa. Why a different exchange for this market? I will explain the differences that making this the right approach.
What happened earlier
The World Blockchain Summit in Dubai (WBSDubai) was held on October 24th and 25th at Jumeirah Emirates Towers Hotel. Attendees of this event consist of crypto influencers, industry speakers, founders, advisors, advocates and even a supermodel- #Nikita Sachdev – to talk about a variety of topics in blockchain. For Huobi Group a very important event to participate in to connect and create relationships that will allow Huobi MENA to expand quickly in the market.
Huobi Group sended one of their best speakers to the World Blockchain Summit, to introduce Huobi MENA. Their very own Mr. Mohit Davar, Co-Founder & Director of Huobi MENA which has years of experience in the industry of payments with him being a chairman in the International Money Transfer Network.
To bring the Huobi Blockchain and digital asset ecosystem to the Middle East, Africa and South Asia Huobi Group decided to open a headquarter in the most crypto friendly region; Dubai. From here they are going “to replicate its successful experience of eco-system building”.
The expansion plans including:
- Over the counter trading (OTC), is already live at https://www.huobimena.com/
- Incubation of blockchain projects
- Token to token trading, is already live at https://www.huobimena.com/
- Community development
- Building an educational center
- Building relevant partnerships
Next to Dubai, also Bahrein, Turkey, Iran, Israel and Palestina embraced cryptocurrency and blockchain technology. Also a few African countries came to the blockchain event. South Africa, Nigeria, Kenya, Ghana, Uganda and Rwanda adopted blockchain technology.
Markets in the Middle East & Africa
Most of western investors are seeing obstacles when looking at markets in Africa and The Middle East. They are blinded by the mainstream media, which are projecting mostly negative newsitems every day to the western world. That declares why western investors are missing trust to look into these markets, but I will show you what most investors don’t know or even not investigate. I can tell you there is great potential in these markets and as investor you have to know everything about the current situation. Why? Because you are trading on the biggest market worldwide and to be successful in these market you must use every opportunity and know every threat to make the right decisions! According to the high inflation rates in many countries, the adoption and demand for cryptocurrencies in markets in The Middle East & Africa will double by the end of 2018.
“Africa could be the next frontier for cryptocurrency”
According to the World Bank some of the African countries have double digit inflation rates. Egypt, South Sudan, Ghana, Malawi, Mozambique, Nigeria, South-Africa and Zimbabwe are among these countries. Many of their citizens already switched from a corrupt centralized bank to decentralized cryptocurrencies. There will be 725 million mobile phone users in Africa by 2020, so many of the citizens will have the rights tools to access the blockchain.
Not only the markets and financial systems in the Middle East and Africa are the problems to surface. Nations under Sharia law have strict guidelines on their economy and also prohibit the collection of interest and market speculation. For every country there will be investigated what are the possibilities and products are being developed to make trading possible for these groups of potential traders.
For people dealing with high inflation, cryptocurrencies can be the better alternative. And when more and more cryptocurrency projects are able to improve the life of the citizens, cryptocurrencies will prove their right of existence and show the rest of the world the benefits of blockchain and cryptocurrencies against fiat money.
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Disclaimer: The material provided herein is general in nature and does not take into account your objectives, financial situation or needs. While every care has been taken in preparing this material, we do not provide any representation or warranty (express or implied) with respect to its completeness or accuracy. For the avoidance of doubt, this article is solely intended to be for general information only and does not in any way constitute as professional advice or financial advice. This is not an invitation or an offer to buy or sell cryptocurrencies, nor is it a recommendation to buy or sell specific types of cryptocurrencies. Trading cryptocurrencies carries a high level of risk that may not be suitable for some. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice.
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