China’s cryptocurrency exchange Huobi could not open its Korean currency market this year, apparently due to the banks’ reluctance to open real-name accounts.
It is still unclear when the exchange would open the market in South Korea.
A Huobi Korea executive told The Block Media that the company had extensive talks with banks and non-bank financial institutions in Korea. But he has yet to pinpoint the bank s which promised to open the accounts for Huobi investors.
The timing of the market-opening is not as good as the cryptocurrency prices nosedived in recent weeks. The prosecution has indicted executives of South Korea’s leading exchange for inflating trading volume.
The Huobi executive said the company’s plan to open the market has not changed.
