Huobi Global Plans To Change Its Headquarter’s Country

In a formal announcement, Huobi Global announced that it is thinking about relocating its headquarters to the Caribbean. The business had to dispel many allegations that over two hundred workers had been let off the previous week.

The corporation is reportedly thinking about moving its headquarters there, according to the announcement.

Huobi Global changes its headquarters’s location

The firm is prepared to bet everything on the spot, according to a story published by FT. Huobi Global listed the country’s adoption of English, welcoming attitude toward crypto assets, and legal framework as the elements it took into account.

The Dominican Republic was not the only potential place mentioned by the authorities; the Bahamas and Panama were also mentioned as the possible areas to place the headquarters.

Discussions between the cryptocurrency company and Roosevelt Skerrit who is PM (prime minister) of The Dominican Republic, were referenced in the report.

How the two organizations would collaborate to help the nation develop its crypto system was one of the topics explored.

ACP was rewarded ownership of the firm

Currently, the company’s headquarters are in the Republic of Seychelles, and it has additional branches throughout the United States, Japan, Hong Kong.  According to the FT article, the business intends to move approximately 200 of its overall 1600 workers to the new offices.

Given its receptivity to modern technology, the Caribbean has emerged to be in the list of the most highly prized destinations. PrimeBit, FTX, Binance, PrimeBit are a few businesses that have changed their headquarters’ location to the Caribbean. FTX completed the transfer last year.

After a purchase agreement was triggered last month, ACP (About Capital Management) based in Hong Kong was awarded ownership of Huobi Global.

There have been reports that certain executives under the previous management would leave after the deal was inked. The business was also anticipated to reduce some of its workforce.

However, a corporate representative allayed worries by saying that the business was still firmly in the bad conditions financially. He did, however, imply that the corporation was making some cost reductions as a result of the challenging market conditions.