Huobi to launch super fast IEO platform

The cryptocurrency exchange launches a new niche platform for Initial Exchange Offerings.
The platform will allow for super fast and flexible listing process.

Tanya Abrosimova Independent Analyst

The Singapore cryptocurrency exchange Huobi Global announced the launch of Prime Lite, an advanced platform for Initial Exchange Offerings (IEO).

“Get ready to get even more primed! BIG NEWS! Huobi Global will launch a streamlined version of Huobi Prime soon. We call it Prime Lite! ThunderCore will be our first project,” the company announced in its Twitter account.

Prime Lite listing requirements won’t differ much from Huobi Prime. However, the new platform is designed as a niche project, different from Huobi Prime in a number of critical ways, including shorter listing cycle, flexible schedule and trading allocations. Also, the platform will burn HT tokens to facilitate the development.

The launch is scheduled on May 9, while the first IEO project will be carried out by ThunderCore project engaged in a high throughput blockchain development.

“The first Prime Lite project will be ThunderCore (TT), and total trading allocation reserved for Prime Lite will be worth roughly 500,000 USDT. Specific project information and trading rules will be further disclosed in subsequent announcements.

In a separate development, the Japanese financial regulator visited Huobi and Fisco to investigate the customer protection and anti-money laundering (AML) system of the companies.

Author

Tanya Abrosimova

Independent Analyst

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