Both properties bring Huobi closer to being a one-stop bitcoin and litecoin service provider, allowing users meaningful new tools for analysis and security. Although such services exist in various forms already, such as BitGo and Blockchain.info, Chinese customers may greatly prefer to use programs created specifically for their language and market. Should the integration of these systems with Huobi’s trading platform prove successful, Huobi will be well equipped to expand these offerings into the rest of the Asian market.
Speaking with CoinDesk, Huobi spokesman Robert Kuhne said that the acquisitions served a dual purpose: “This is just the start of Huobi implementing a comprehensive strategy, not only to expand its own business, but to promote the development of the whole industry in China.”
It’s not known how much Huobi paid for the two companies, but CoinDesk speculated that it might have been in the eight-figure range. If true, this would push total bitcoin investment this year above $175 million.