Huobi Global, one of the leading cryptocurrency exchanges in the world by daily transaction volumes, may be moving to shift its headquarters from Seychelles to one of the countries on the Caribbean Islands.
As reported by the Financial Times, Tron ecosystem founder, Justin Sun has tagged the “super friendly” crypto regulations, the English adoption rate, as well as its standard law systems, which have made the region an attractive base to establish the exchange’s new operating headquarters.
Huobi Exchange was acquired by About Capital Management last month following the move by founder Leon Li to sell his stake in the company. There were reports at the time that suggested the exchange was indeed snapped up by Justin Sun, however, the billionaire crypto pioneer denied this claim.
It was later unveiled Sun has been appointed to the Huobi Global board as a special adviser and since, has played a prominent role in shaping decisions bordering on the operational efficiencies of the trading platform. While the exact choice of country in the Caribbean has yet to be pinpointed, Sun has pointed out that Panama, Dominica, and the Bahamas remain top on the list.
Justin Sun has been growing his influence in the Caribbean over the past year and he is currently serving as Grenada’s permanent representative at the World Trade Organization (WTO). In a very bullish move for the ecosystem, Sun said he has had a meeting with Dominica’s prime minister Roosevelt Skerrit and that Huobi will play a role in helping the country develop its crypto framework.
“The Caribbean . . . is a very crypto-friendly community . . . and I believe right now, Dominica is one of the frontrunners,” Sun said. “[Skerrit] is a very tech-savvy person. He understands how crypto and the technology works.”
Sun’s push to move Huobi’s headquarters to the Caribbean will trail a similar from Sam Bankman-Fried who moved FTX Derivatives Exchange from Hong Kong to the region last year.