Chinese cryptocurrency exchange Huobi plans to resume operations in the U.S. market.
Huobi said it likely won’t create an exchange and will instead focus on other areas, such as asset management. However, Huobi co-founder Du Jun did not say which specific line of business would be launched first.
Huobi is also considering opening a headquarters in Europe.
Huobi opened its first cryptocurrency exchange in the U.S. in 2018. In 2019, the company announced that user accounts in the United States would be frozen and that it would return to the market “in a more integrated and efficient way.”
According to Huobi’s co-founder, the exchange lost about 30 percent of its revenue as a result of the user shutdown in China. Nevertheless, it has given the organization even more motivation to expand internationally.