Huobi has had a difficult 2022, but a trip to the Caribbean could turn it around. The Chinese crypto exchange unveiled plans to move its headquarters to one of the jurisdictions in the region.
Chinese crypto exchange, which recently has had to disavow the rumors about massive layoffs inside the company, unveiled the plans to move its headquarters to one of the jurisdictions in the Caribbean, with Dominica being the first candidate.the company's intention “to go all in in the Caribbean.” The reason is the region’s “super-friendly” crypto stance, common law systems and English language adoption.
Huobi representative already met Dominica’s prime minister Roosevelt Skerrit last year, and the company would collaborate with the country’s government to enhance its crypto infrastructure. Currently, the headquarters of Huobi is at the Seychelles islands in the Indian Ocean, with the exchange having offices in Hong Kong, South Korea, Japan and the United States. According to FT, the company plans to move up to 200 employees out of 1,600 to the new HQ.
The Caribbean became a hot spot for the crypto industry, especially with the U.S.-founded exchange FTX moving from Hong Kong to the Bahamas in 2021. Among other companies to register in local jurisdictions are Binance, C-Trade and PrimeBit.
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