According to a press release disclosed to cointelegraph, HBUS, the strategic associate of Huobi, has employed a previous executive of venture capital (VC) firm Draper Athena.
The HBUS trading platform which presently hires around 40 people in their headquarters in San Francisco has officially declared the appointment of Jay Ryu formerly of Draper Athen, as vice president of corporate development.
As the press states, Ryu worked with important figures in the VC industry before like Tim Draper, Draper Athena chairman popular for his pro-crypto position.
As indicated by the report, with seven years of experiences as venture capital director at Draper Athena, Ryu led technology investment across silicon valley, Asia, and the middle east. Apart from Draper Athena, the VC specialist is also a founder of rage partners, investment consulting group and also previous managing partner and strategic advisor for checkmate capital, a private equity firm.
The new HBUS entrant commented in the release that the present condition of the crypto and blockchain industry is “drastically different than what we witnessed last year,” specifying that the community is growing fast which attracts more institutional players to the field.
The third largest crypto exchange by trade volume, Huobi first declared their US strategic partner in June. After the declaration, HBUS’ trading platform went live on July 10th, providing its customers trading in 22 cryptocurrencies which includes Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ethereum Classic (ETC), and Bitcoin Cash (BCH).
Supposedly putting themselves as “aggressively” competitive with big crypto services like Coinbase and Robinhood, HBUS has recently declared the release of its API for traders with experience planning to increase crypto related tools for institutional investors.
Huobi is positioned 3rd among crypto exchanges on coinmarketcap by daily trade volumes with about $388.2 million in trades. HBUS is positioned 142nd for daily trade volumes, seeing about $255k in trades since yesterday.