Huobi Global has announced the development of a new hourly margin interest model development. This will take effect from Friday, 28th June 2019 at 11:00 GMT+8.
According to their official announcement,
The calculation of margin loan interest will be adjusted from daily to hourly at 11:00 on June 28, 2019 (GMT+8). To celebrate it, Huobi Global will launch “0% Interest on Margin Trading” promotion for only 24 hours.
0% Interest For 24 Hours
This news came with a special offering of a 0% interest on all hourly margin calculations from 11:00 on June 27 to 11:00 on June 28 (GMT+8). Users who participate in any margin loans can enjoy 0% interest on margin trading on Huobi Global.
However, If you have applied for any margin loans before 11:00 on June 27 (GMT+8), there will be no interest generated during the promotion, the announcement stipulated.
Also, If you apply for any margin loans after 11:00 on June 27 (GMT+8), there will be no interest generated during the promotion. At 11:00 on June 28 (GMT+8), all applied margin loans will generate the interest for the first hour.
Nonetheless, Huobi Global warned its customers who might be interested in this new development that “trading in digital assets comes with high risks due to huge price fluctuations. Before trading, traders, especially inexperienced ones, were enjoined to have a full understanding of all the risks of trading in digital assets and be prudent of your own decisions.”
Huobi Turkey 2020
More seem to be coming from Huobi recently. Apart from its new development on margin trading, Huobi also revealed plans of global expansion. Now, Turkey is the new target market. According to Huobi Global’s CEO; Livio Weng,
“Turkey is a very important and promising prospective market for us and we plan to take an aggressive approach to bring the Huobi ecosystem there,”
Huobi plans to include a fiat onramp for Turkish Lira, a branch office with local resources from Turkey and localized products and customer support. Huobi invites Turkish projects to apply for listing here: [email protected].
At a Huobi sponsored event attended by traders, crypto enthusiasts and many blockchain professionals in Istanbul, Turkey, Weng added that the proposed Turkish arm of Huobi Global would be overseen by MENA.
Other Areas Of Possible Expansion
Apart from Turkey, Huobi is also looking to expand to other markets as well. Romania, being a major possibility at this time, Huobi was reported to have received an invitation of the Romanian government.
Speaking on the possibilities, Weng added,
“It’s unclear what changes blockchain will bring to the world but today we are all pioneers in the space,” said Weng. “Huobi is willing to work with you in charting a path into a promising future.”