Huobi Group, one of the largest crypto exchanges in the world has recently launched a new service for streamlining the application process for token listing. The Exchange is currently among the top five exchanges by trade volume, as per data available on Coinmarketcap at press time.
In a recent statement, Huobi shared that it plans to launch a new product by the name of Huobi Automated Listing Platform to foster a more transparent token listing process. This does not mean that the Singapore-based cryptocurrency exchange will accept the application of any token issuer who applies to be listed on Huobi Global or Huobi HADAX. A process will be followed for registrations, which will include the submission of specific documentation.
Once the verification process completes, the applicant will be allocated a unique login account. This account will then provide access to the applicant for submitting, editing, modifying, and reviewing the status of the application or that of the filed documents. In case a project fails to pass the verification process, it will be reminded with a notification to re-apply to HADAX 2.0. Additionally, it will also get assisted with registration on the new listing platform.
However, in this case, the project will have to follow new rules for application and listing. These rules require the project to apply for listing via an endorser who will conduct a cross-review with all the other projects. Next, the selected projects will qualify for public voting that will take place on the last day of a seven-day project at the Huobi Show Center.
The company’s announcement states that it plans to launch the Huobi Automated Listing program along with Huobi Blockchain Project Show Center that aims to offer access to videos, reports, and live broadcasts later this year.
Earlier this year in July, the Huobi Group had launched Huobi Cloud, a product to enable its users to build digital asset and over the counter exchanges atop the existing platform of Huobi. As part of the Cloud, members also have access to the order integration and wallet systems along with clearing and asset management system of the Huobi Global platform.