Huobi Russia, the Russian division of the huobi cryptocurrency exchange, announced the start of accepting deposits in rubles, as well as plans to launch a new platform for IEO, reported CoinDesk on November 29th.
Users can now open deposits in rubles using a Bank transfer. Transactions will be carried out through the Uzbek Bank InfinBank. In addition, HBRU CIS-a legal entity representing Huobi Russia has received approval from the Ministry of justice of Uzbekistan to conduct transactions using digital assets and software in accordance with the current legislation.
Recently, to push for progress in the crypto exchanges in Russia, Uzbekistan has recently taken steps to bring in more business, like tax incentives.
Along with the launch of the rubles deposits, the Moscow office will be creating its own platform, allowing it to establish initial exchange offerings (IEOs). The platform, Huobi Russia Origin, makes it possible for Russian projects to choose a different option from what the Huobi Prime launchpad provides. Previously, any project aiming to launch a new token could only do it through Huobi Prime.