According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company.
that Huobi Korea wants to break away from the parent company Huobi. News1 reports that Huobi Korea plans to purchase shares from the parent company and change its name. The “equity relationship with Huobi Global will also be sorted out,” according to the report, and the teams plan to hold a meeting between employees and top executives.
News1 reported that the name change and stake purchase will sever the ties between the two firms, allowing the Korean exchange to operate independently. One source told News1 that the name change was a significant event. “Huobi Korea has suffered from being perceived as a foreign exchange, particularly with the image of a ‘Chinese exchange,’” the source said. “It can be interpreted as an effort to demonstrate that it is a ‘domestic exchange’ that is as safe as it is.
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