Singaporean-based cryptocurrency exchange Huobi plans to open new headquarters in the central Chinese mega-city of Chongqing.
On 18 June the Chongqing Municipal Big Data Applications Development Administration ( 重庆市大数据应用发展管理局) and the Yubei District government entered a cooperative agreement with Huobi China.
Under the Agreement Huobi China will establish its headquarters in the Xiantao International Big Data Valley (仙桃国际大数据谷) – an industrial park launched by the Chongqing municipal government in 2014 to serve as a hub for emerging tech sectors including big data, cloud computing and cross-border e-commerce.
The Agreement will also see all three signatories work together to create a “blockchain industrial base” in the region, which will include “the creation of demonstration projects, undertaking research work, and creating industry brands.”
Huobi was first founded in China in 2013 by Tsinghua University alumnus Leon Li, yet left hard hit by a ban on bitcoin exchanges and ICO’s imposed by Beijing in September 2017.
It subsequently launched operations in Singapore in November 2017, before opening an office in Japan in December of the same year.