From December 9-10, the cryptocurrency trading platform Huobi HTX appeared as a sponsor at the Bitcoin MENA Summit held in Abu Dhabi. The summit, the first global cryptocurrency event held in the Middle East and North Africa region, attracted heavyweight guests such as Eric Trump, son of US President-elect Donald Trump, CZ, and Marwan Alzarouni, CEO of the Dubai Blockchain Center, to discuss the future trends and opportunities of cryptocurrencies.
During the summit, Justin Sun, the global advisor of Huobi HTX and the founder of TRON, as well as Charmaine Lim, the head of Huobi HTX VIP customer service, attended and delivered speeches on the current state of the industry and future trends. This demonstrates Huobi HTX's emphasis on the cryptocurrency market in the Middle East and North Africa, and also means that Huobi HTX will continue to deepen its global strategic layout, while further promoting the widespread application of cryptocurrency through exchange and cooperation with global cryptocurrency entrepreneurs and communities.
In his keynote speech "The Great Debate: Bitcoin vs Crypto", Justin Sun expressed his interpretation of the relationship between Bitcoin and other cryptocurrencies. Justin Sun said that one of the core narratives of Bitcoin is value storage, which requires absolute security and decentralization to make each holder feel at ease. Therefore, the best approach for Bitcoin is to maintain its original appearance. This may weaken innovation, but it ensures stability. If you want to pursue innovation and explore cutting-edge consumer technology products, you can achieve this through other blockchains and cryptocurrencies.
Regarding Bitcoin breaking the $100,000 mark, Justin Sun believes that this is inseparable from the help of the technological development of the cryptocurrency industry. He said, "Tether was once issued as a stablecoin on the Bitcoin Omni Layer, but was limited by its slow speed and unable to achieve greater development. USDT on TRON can realize instant transactions and meet user needs. Technological progress has also benefited Bitcoin, and the popularity of stablecoins has brought more capital into Bitcoin, helping it achieve the purpose of value storage."
"Each cryptocurrency has its own meaning. For example, Ethereum or TRON, their value is easy to understand, because millions of users use them every day. There are also other cryptocurrencies like Meme coins, we may not immediately understand their value, but from DOGE to SHIB to PEPE, Meme coins have already formed a considerable scale. Therefore, I think cryptocurrencies are like a museum, you may not be able to understand every collection, just like you don't understand why a banana is worth $6 million. What you need to do is keep learning as cryptocurrencies evolve," Justin Sun added.
Charmaine Lim, the head of Huobi HTX VIP customer service, introduced in the "Improving Access to Bitcoin in The UAE" roundtable forum that since 2015, the UAE has made significant progress in promoting the adoption of Bitcoin and other cryptocurrencies. However, factors such as the cautious attitude of some banks towards cryptocurrency transactions, insufficient education on cryptocurrencies, and complex and changing regulations still hinder the development of the cryptocurrency industry in the UAE.
Charmaine pointed out that Huobi HTX has currently obtained a preliminary VARA license in the UAE and is applying for an official license upgrade. At the same time, it is actively establishing cooperation with local banks to provide a more direct legal tender to cryptocurrency transaction channel. In addition, it will provide learning opportunities on topics such as cryptocurrency trading, storage, and security for global users through Huobi live broadcasts and online seminars, and continue to update language options, such as providing Arabic support, to improve the user experience.
Furthermore, Charmaine also suggested that the UAE government should build a friendly cryptocurrency business environment and promote the rapid popularization of cryptocurrencies through measures such as establishing a clear regulatory framework, simplifying the licensing process for various service providers, providing tax incentives for blockchain companies, and expanding the existing regulatory sandbox.
From Blockchain Life, Cardano Summit, to Bitcoin MENA, Huobi HTX has frequently appeared in the UAE in 2024, fully demonstrating its high attention to the development potential of the cryptocurrency in the Middle East and North Africa. Huobi HTX hopes to further promote the popularization and compliance of cryptocurrencies in the region through product innovation and close cooperation with local partners.
In addition, with the booming global cryptocurrency market, Huobi HTX will continue to expand its business layout globally, promote cryptocurrency technology innovation and application, and build a more open Web3.0 ecosystem.
