Huobi’s derivatives platform will now be known as Huobi Futures

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Written on May 18, 2020

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Huobi Global recently announced that its derivatives platform, Huobi DM will change its name.
The platform is now known as Huobi Futures, and the decision came in order to appeal to a wider audience.
Recent wave of improvements that will make Huobi more convenient and user-friendly.

After trying to help its investors secure their investments through the addition of new features earlier this year, Huobi DM now decided to introduce an even bigger change. According to its Sunday announcement, the exchange plans to completely change the name of its derivatives platform.

Huobi’s derivatives platform sees major popularity

Once known as Huobi DM, the platform will now change the name into Huobi Futures. The move comes due to a massive surge in demand for crypto futures contracts. With the surge in demand, Huobi wishes to immediately let new potential users know that they can find and access futures on this platform.

Of course, that doesn’t mean that the platform doesn’t see more than enough activity already. In fact, Huobi’s platform handled 22% of all crypto derivatives in Q1 2020. It managed to achieve a total volume of $438 billion.

As the excitement about the crypto industry rises, so does the excitement about products like these. Huobi’s head of global business and markets, Ciara Sun, commented on the new development. Sun said that “The last few quarters have been particularly exciting for the crypto derivatives market, but I’m more excited that the increased activity we’re seeing today may be a catalyst for widespread crypto adoption.”

However, the exchange noted that institutions are not the only ones with interest in the market — retail traders are becoming more intrigued with it too.

Huobi keeps improving as competition gets stronger

Huobi’s crypto derivatives platform first launched in 2018, which made it quite early compared to most competitors. However, investors and traders immediately started showing interest, and Huobi DM saw impressive figures right away. Unfortunately, while among the first movers, Huobi’s derivatives platform did get in Binance’s shadow, as the world’s leading exchange took the lead in terms of volume.

Huobi did continue innovating, though, and it came up with new products and functionalities, many of which became major hits. One example includes newly-launched coin-margined perpetual contracts.

With the decision to rebrand, Huobi expects that a wider audience might approach its platform in search of futures.