‘Exchange Without Accounts’ ShapeShift to Gradually Introduce Membership Program

Crypto-fiat exchange Huobi OTC, an affiliate of Singapore-based Huobi Global, has recently enabled all “Ordinary Users” with the rights to post ads, according to an official statement published September 4.

The new feature is available to all customers of Huobi OTC, excluding users from China.

Advertisement posting on the platform by “more ordinary users” intends to expand users’ experience in participating and initiating purchases and sales of the local fiat currency to cryptocurrency transactions.

In order to post crypto ads on Huobi OTC platform, users must comply with four major requirements. The platform’s customers must complete the “ID verification” and hold minimum total asset that is equivalent to 0.01 Bitcoin (BTC). As mentioned above, the ads can be only posted by non-residents of China.

The maximum amount of each advertisement is capped in cryptocurrency, limiting postings capped with 2 BTC, or 20 Ethereum (ETH), or 2,000 EOS, or 5,000 Huobi Token (HT). In order to post a higher advertisement amount, users should apply for a Verified Merchant account.

In turn, Verified Merchant account requires “strict background check” on personal data in order to pay a security deposit. The status of Verified Merchant on Huobi OTC allows to post higher purchase/sale ads, use “the unique V logo,” as well as enables merchant training program and offers “one-to-one exclusive customer service.”

Also on September 4, Huobi announced the official launch of the Huobi Automated Listing Platform in order to assist blockchain firms to list the tokens in a more efficient and prompt way. The new automated listing system also intends to provide a more transparent listing process.

On Aug. 9, Huobi Global launched institutional users with “one-stop professional services,” limiting the client base to 100 institutional clients and 10 deposit-withdrawal dealers on the first stage.

In July, Huobi, the third largest crypto exchange by daily trading volumes worldwide at press time, revealed it will support Indian rupee (INR) transactions on its internal peer-to-peer trading platform.