Huobi in 2022: Where We Are and Where We're Heading - TOKEN2049 Singapore 2022

hello everyone thank you thank you for being here I know it's late I know it's almost the end of the conference but I really appreciate that you stuck around and you know you're here and I'm gonna make this as simple as possible I don't want to take much of your time but we're just gonna give you I'm just gonna give you a small brief of you know where Hobie is how we gotcha is going to be a part of it and you know where we are heading in the next future because you know that's something that everyone at least associated with Obi wants to know so um just going through a few of the things that I'm going to go into is as I mentioned how we got here so we're going to talk about you know how we got into the crypto space you know what happened in the last few years you know where we went what happened and you know what challenges we face so that I'm going to cover a bit of that as well and you know what are the other things that we're doing at the moment and you know what our plan is going to be for the years ahead um you know 2022 and post 2022. so just getting started with the basics of you know how huobi itself got into the crypto space so um a lot of you might know that Hobie you know was very early into the crypto space as an exchange we started back in 2013. it was basically a Bitcoin Buy in a Cell exchange that's all we had but um just one year down the road you know we got to a you know about 20 billion dollars in trading volume cumulatively in just about a year which is you know quite remarkable and you know for us we are really you know proud of that achievement uh moving forward we've got you know so many different products that we've added it's not just the Bitcoin buy and sell but we've got a massive exchange on our hands um it's derivatives it's spot we've got fixed income products we've got a set management custody you name it and we almost have it um which is growing on and on we're going to be adding new products we're going to be doing a lot more in the years to come but a few key highlights of you know what we've accomplished over the years so we have a nine-year history of never being compromised so we've made sure that we are risk management is you know at the Forefront we make sure that the clients fund security is something that really matters to us and we want to make sure that's absolutely protected no matter what happens another thing is you know as we are one of the biggest exchanges coming in the top 10 we have you know really high quality liquidity uh if a client wants to come and trade on hobby they can do so and get the best prizes possible because we have you know a lot of supporters a lot of people who are with us partnering us giving us liquidity and making sure that we can offer the best prices from RN and another thing you know that we have at the moment is that you know even though we have the best risk management resource that we you know have put in place we just want to make sure that there is always something that we have for the you know a rainy day if something goes wrong and to do so you know we've always had about two twenty thousand Bitcoins in our Reserve funds so in case something goes wrong touch what it doesn't but in case it goes wrong we've made sure that you know our funds our clients funds anyone who's associated with ob anyone who's trusted who will be their funds are always going to be protected so just moving on um you know I'm not just going to talk about the accomplishments of OB but I'm also going to talk about you know some of the challenges we faced and um you know these are going to be correlated with some of the challenges that came up in generally in the crypto space a lot of exchanges had issues um we all know what happened you know in the early phases of 2022 so I'm just going to touch up on you know how we went through that phase how we manage that particular phase so first of all um we've had you know that issue with the Chinese regulations that came in that kicked in and you know just to make sure that we abide by all rules possible and we don't want to do anything that's not in the regulations we ensure that we stopped offering our services to our Chinese clients which you know at the moment at that particular point in time was one of a major clientele but uh you know just again regulations are something that's very important to us so we made sure that you know we um we're not going to be offering anything that's not in the regulations so after that what we did so we had to get back the market share that you know we had compromised because of these regulations so what we did is we started you know looking at a global expansion plan where we started you know opening up to other markets that we weren't offering initially we built a robust theme that's you know Global we've had offices in multiple locations now so we were able to you know um service clients from 170 countries now and um this is you know all thanks to our offices in different countries where we have people from different nationalities who are actually supporting the clients making sure that they have the best you know client experience no matter what happens they're going to have support 24 7 365. it can be a holiday in one region but we've had someone else from another region who's going to be covering any of the client query so we make sure that no matter what happens the client queries are going to be sorted immediately and another thing you know as part of a global expansion is Fiat a lot of you know crypto companies are talking about Fiat and how to integrate Fiat with the traditional uh the crypto markets how is it going to be easy for people to you know put in their own Fiat money buy crypto so for us you know that is again something that's very important to us so we make sure that we are trying to you know add as many Fiat channels as possible so that clients are able to trade with us very very simply they don't have any hindrances in the way so that's something again that's you know extremely important to us so moving on as I mentioned you know just a bit about licensing and regulations so I'm just going to touch up a little more on that so as of now we have about 10 licensed entities in different countries offering different services but uh the major ones that we have at the moment are um hobby Technologies in Hong Kong which is not just regulated in Hong Kong but is also listed on the Hong Kong Stock Exchange and through this entity we offer a OTC um you know OTC brokerage products we offer lending and borrowing we offer Asset Management we offer custody which is you know we try to make sure that we have a hundred percent cold wallet to make sure that funds are always protected and this is again everything with the regulations that are set up by the Hong Kong regulators and we make sure that we abide by all of them uh we also have another one which is bwl that is something that just got regulated very recently in the British Virgin Islands um again for clients who want to trade on our exchange which is the Futures uh the derivatives and the sport exchange then we can also offer them to use this entity to trade with us so that they have the confidence of trading with a regulated entity um rather than you know many other unregulated entities or any of the unregulated exchanges out there so uh this comes with a few things that we had to compromise on we're not able to give you know the maximum leverage that we can on the unregulated side but again you know it's going to be something that we want to do for the clients where they have a peace of mind when they trade with us without any issues from their end uh a few other things that we have we've got registrations in the US we've got registrations in Canada um Dubai is opening up as a spot for crypto right now so we're trying to create a presence in Dubai so we've got a license to have a presence have an office set up have a team in Dubai that can service clients from there and uh another thing is we are not going to stop pursuing you know more licenses more regulations just to make sure that we can do all that we can to make sure that we work within the framework of the law and we don't go out of the regulations no matter what happens um I'm gonna start you know talk about the 2022 challenges as I mentioned earlier that's something that everyone faced everyone's talking about so I also want to just talk about it and make sure that you know we we're not just we're not We're Not Gonna you know talk only about the good things and not talk about the challenges we've had so first of all what we did you know a lot of crypto companies um they had to go bankrupt because they were not able to cover for their losses uh they had a lot of uncollateralized assets uncollateralized lending that they gave out so they were not able to recollect that so what a few things that we've done from our end is that we have a very robust risk management system so we make sure that anything that comes any product any or any of the you know listings that we do anything that we offer has something that has you know we have an entire team that looks into the background of it and you know make sure that absolutely no risk or the minimal of risk is involved in offering those particular products another thing that you know something that we did is that we didn't offer uncollateralized loans a lot of you know companies that offered uncoateralized loans suffer during this particular uh 2022 issue so that's something that we did and then you know we of course we didn't get that business where we had clients who wanted on collateralized loans but because of our risk management system we made sure that you know we stuck by it because you know we wanted to protect the clients funds or anyone that depositing with us so yeah we just you know decided to go with it take the hit not get that business but at the same time not give up our stance on you know uh being absolutely top in Risk Management um our you know we've we've been giving loans as well so even though we're not giving uncollateralized loans we are giving collateralized loans up to 5x and that had no issues people were able to repay we were able to get back the money anyone that deposited with us was able to get the money back as well so we didn't have any issues there um the Insurance Fund that we had you know held up very well so we made sure that you know in case any liquidation happened or anything of that sort of happened we made sure that you know our uh we didn't go back to the clients and there were no clawbacks that were done because of you know the rapid price drops in different assets and uh the other thing as I mentioned the Reserve fund that we had of 20 000 Bitcoins that is still intact there is nothing that's happened to that particular fund we make sure that that's absolutely protected just because we want to make sure that we can cover for any losses for the clients in the future um just moving on to a few key statistics something that a lot of you all might already know but I'm just going to quickly run through them so we have about 600 plus tokens that are listed on our spot exchange which is quite a good number uh we had about 200 trading pairs on the Futures and swaps we offer both you know usdt swaps we offer coin margin swaps um and also we offer fixed maturity Futures as well so we have you know quite a lot of options for our clients um accumulative volume was quite large we had about 4.4 trillion dollars worth of you know trading volume that was done on our exchange both in spot and derivatives and uh we have about 4.

5 million active users that are using hobie's platform and trading with us um you know on a regular basis another thing is that we you know have a lot of institutional Partners just to make sure that we can offer the best services to our retail clients to you know institutional clients as well so we partner up with as many institutional partners that we can and at the moment we have about 822 institutions that actually trade with us with absolute confidence because of you know our history of risk management and never really being compromised okay finally I'm just gonna talk about as I mentioned what's going to be for us ahead you know post 2022 uh I've spoken about how we got here what we did but just a little bit about you know what we're going to be doing post 2022 um licensing and regulations always going to be on the top we want to make sure that we have as many licenses and regulations in different regions uh we can offer our you know products to different clients across the across the globe you know we don't want to have any client that has any restrictions because of regulations or licensing so we're just trying to you know pursue actively reach out to different agencies different government entities different Regulators just to make sure that we can get those licenses and we can offer our products to those particular clients um Innovative products is something that we always try to do as I mentioned we have you know a wide variety of products that we offer at the moment but we're not going to stop with that we're going to keep going we're going to keep going we're going to keep adding as many products as we can and we have an entire team that's based on just creating new products that could you know give yields or give returns to clients irrespective of the market scenario Market can be up can be done but we want to make sure that you know Kobe has products that can offer on either of these scenarios whatever it may be another thing that you know we've done is uh we've given a lot of importance to our API because we have a lot of you know uh institutional Partners who trade with us using the API not necessarily just you know on the platform so that's something that we're going to be building on so we have a new upgrade that's coming to our API the version three that's going to make it even more seamless for you know in institutions or any clients who are using the the API to connect with Hobie and make sure that there's absolutely no there's no lag in the orders there's no slippage and we just want to make sure that we can give them the best seamless experience and finally portfolio margin a lot of people you know are talking about it OB doesn't have it at the moment but we're trying to get that in again this is reliant on our Risk Management Systems because you know portfolio management also brings in a lot of risk for us so we're trying to evaluate what we can do and we're going to try to you know incorporate this into our offering as well so that clients can trade on who will be with you know minimal of Investments or they can you know actually spread their funds around different projects or different products so you know how it may be so they're not limited to a few of um you know a few of the products that they can go because they have to go with high leverage or high margin so yeah portfolio margin is something else that we want to do so yeah that's about it from me um thank you everyone for being here uh for anyone who's already a client of OB um I thank you for your partnership we can do you know we'll keep doing everything that we can to make our services better and for anyone who's looking to join who will be in the near future please you know come into our website check out our products we've got great offers for you and we've got anything and every product that you know might suit your requirements so once again thank you for having me and um have a great weekend after this thank you guys