Hubei Group renamed its derivative trading brand (Hobby DM) to (Hobby Futures); In an attempt to attract more investors to cryptocurrency derivatives.
According to the announcement made by Ciara Sun, official spokesperson and president of Hubei International Business Company, the new name of the stock exchange indicates the growth of the emerging industry to an industry that now has the interests of each investor. Institutions and individuals.
The reports that the Hubei Group shares with Queen Telegraph, show that the Hubei derivative platform achieved significant growth for the company in the first quarter of 2020. It is clear from the report why Hubei may focus on Changing the brand and pushing its derivatives platform - now called Hobby Futures - to a wider audience.
The quarterly report indicates that Hobby Futures saw a 88.04% increase in the number of institutional investors in the first quarter of 2020.
The trading volume of derivatives increased by 171.16%, from $ 126.7 billion in average quarterly trading volume in 2019 to $ 343.8 billion in the first quarter of Year 2020.
Sun also revealed in an interview that institutional investors account for 40% of Hubei's trading volume.
He pointed out that the crypto markets are maturing slowly as more governments around the world take care of the sector and try to better organize the industry. This leads an increasing number of institutional investors to participate in the industry. However, we may need more specific guidance from regulatory agencies for large corporations to trust crypto space and participate more actively.
Sun added: The larger institutions will not trust the unregulated digital asset exchanges, and we have been out of market maturity for five years.
