Cryptocurrency service providers are always looking to gain a competitive edge. A fair few exchanges are now moving well beyond trading services in this regard. Huobi Global has announced the launch of Huobi Prime, which will serve as a “selective token listing channel”. A lot of people seem to compare this to Binance’s Launchpad, which has become a rather big success in a very short amount of time.
The Purpose of Huobi Prime
It is obvious for everyone to see the cryptocurrency industry needs to keep evolving at any given time. For exchanges and service providers, there are numerous options to explore. It would appear a growing number of them show an interest in getting involved with token offerings. A bit of an unusual decision, as the regulatory stance on token offerings has never been too positive in any part of the world.
Keeping that information in mind, it is all the more interesting to see Huobi Global get in on the token action. More specifically, the company has confirmed they will launch Huobi Prime, which will go live next Tuesday. This new platform will present a spotlight for “selective token listings”. Many people will see this as a pump scheme for tokens willing to pay a listing price, even though the exact requirements for getting listed remain rather unclear at this time.
As part of this new effort, Huobi Prime will be a good place for blockchain applications and ecosystem tools to showcase their skills. Huobi has, according to its own blog post, gathered numerous years of experience in the crypto and digital asset world. The company will actively review the best digital assets to be listed on this platform moving forward. One of the first projects has already been announced, and it seems to draw some similarities with how other token listing platforms operate these days.
The comparison between Huobi Prime and Binance”s Launchpad is not all that hard to find. Both platforms offer exposure to tokens and assets most people may not even know. Moreover, it appears both launchpad and Huobi Prime want to bring more exposure to their own native tokens. Both Binance Coin and Huobi Token will benefit from these platforms respectively, as Huobi will list non-security assets for trade in an HT pair pretty quickly. Moreover, listed projects will also appear on Huobi Global, Huobi Korea, and HBUS to receive USDT/BTC/ETH/KRW trading pairs in the process.
The main question is whether or not Huobi Prime will see any interest. Considering how the company will list different tokens compared to Binance’s Launchpad, there may be an audience for this type of service. However, since both platforms require the use of native exchange tokens to partake in these offerings, there will undoubtedly be some complaints regarding HT and BNB “pumping” when new listings are on the horizon on Launchpad and Huobi Prime respectively.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.