Huobi Global Ecosystem Fund has invested in the Global Risk Exchange (GRE), an open source, blockchain-based, risk exchange market.
Why it is important
- The project develops a number of innovative solutions in the field of insurance. GRE helps “individuals, companies, and organizations to access,trade, and manage their risks.”
- The Huobi Global Ecosystem Fund invests in the best blockchain companies and works to make the ecosystem “healthier and stronger.”
GRE has a completely decentralized management principle that allows users to hedge risks and the project helps insurers, insured persons, and developers to effectively interact with each other. With the help of the blockchain, any participant in the ecosystem may reap the benefits of operation transparency and can assess how all parties influence the occurrence of risks in trading.
The decentralized system allows participants of the platform to receive guaranteed payments on insurance contracts, buy, sell, exchange, and transfer risks to other companies. At the same time, all information is protected by blockchain technology.
The investment that GRE received from the fund would be used “to secure the progress of the international distribution and ecological construction of GRE.” Huobi Global Ecosystem Fund was established in 2018. The fund supports the prospective blocking companies.
“By joining the Huobi Ecosystem, we seek to form positive synergies with other companies to form win-win partnerships,” the Huobi website states.
Huobi Group is one of the world's leading providers of financial services in the blockbuster industry, serving customers all around the world.
Now the Huobi exchange is being prepared for its launch in the United States. The exchange has already received a license from FinCEN, which will allow it to act as a full-fledged provider of financial services in the US market. The platform will launch trading at the beginning of next month.
Today, it also became known that the HBUS, the new U.S. strategic partner of Huobi, will be headed by senior executives from the Chinese Meitu Frank Fu. As CEO of HBUS, he will regulate operational processes and monitor the technological development of the platform.
The new head of HBUS has dealt with cryptocurrencies before and in April, Fu invested $2 million in the blockchain-based sports game MyDFS. According to him, it is now the most "compelling time in the cryptocurrency industry."
By Ekaterina Ulyanova