Ex-Huobi Executive Launches Crypto Exchange
December 3, 2018 12:29 pm
Even though the state of the cryptocurrency market is far from ideal, it seems that people are still looking to make it big. James Ju, the tech entrepreneur has been successful in bringing investors on board to fund his upcoming cryptocurrency project.
Ju is a former Chief Technical Officer at Huobi. He has said that plans have been put into place to launch his own cryptocurrency exchange by the end of this year. The exchange is named BHEX and has been successful in raising $15 million from multiple institutions including OKEx and Huobi, his former employers. The exchange has already conducted a successful token round which featured high profile funds that include DHVC, Dfund, BlockVC and Genesis Capital.
Based on a press release, the founders of BHEX exchange are bringing their experience of “first-tier technology and financial companies” to the table. Notable mentions include Google and Alibaba.
Ju talked about the Blue Helix technology, an open-source project that will allow BHEX to create a community-managed custody as well as a clearing management system.
Blue Helix is another company which is controlled by Ju. BHEX is being dubbed as the next-generation cryptocurrency trading platform. The exchange is in the process of establishing its offices in Singapore, the United Kingdom, and the United States.
This cryptocurrency exchange will allow trading between crypto-to-crypto, over-the-counter (OTC) options and trading pairs in fiat currencies. An advantage that BHEX enjoys is the option of fiat to Yuan (CNY) trading option. This will allow crypto investors based out of China to carry out trades. As cryptocurrency trading is banned in China, this offers a great opportunity for these potential investors.
Ju has played a major role in restructuring Huobi’s trading system and has helped in making it the world’s largest exchange by trade volume. Ju’s exchange also includes Tyler Wu who served as the Managing Director at Huobi Singapore.