Huobi, one of the largest crypto exchanges in China whose technology department has been approved to settle in a technology park in Shenzhen, a city in south China.

The technology park is located in Shenzhen bay in which thousands of innovative enterprises and 9 of the world’s top 500 enterprises have settled. Before that, Huobi’s headquarters is located in Hainan province, an island to the south of China.

Speaking at the signing ceremony, Leon Li, the founder of Huobi said that he hoped to make full use of its competitive advantages in blockchain industry services, taking root in Shenzhen to provide service to the whole country and all the world, thus creating a global leading comprehensive technical service provider.

Earlier, Hong Kong listed company Pantronics Holdings Ltd announced to change its English name “Pantronics Holdings Limited” to “Huobi Technology Holdings Limited” and the change of dual foreign name in Chinese of the Company from “桐成控股有限公司” to “火幣科技控股有限公司” with effect from 11 October 2019.

To reflect the Change of Company Name, the stock short names for trading in the Shares on the Stock Exchange will be changed from “PANTRONICS HLDG” to “HUOBI TECH” in English and from “桐成控股” to “火幣科技” in Chinese with effect from 9:00 a.m. on 18 November 2019. The stock code of the Company on the Stock Exchange will remain unchanged as “1611”.

Early on Sept. 10,  Pantronics Holdings Ltd announced to change the company’s English name “Pantronics Holdings Limited” to “Huobi Technology Holdings Limited”. Huobi Group founder Leon Li has been appointed CEO, chairman of the board and executive director of the board of Pantronics Holdings Ltd.

Backdoor IPO Attempt in Hong Kong was reported at the time as potentially providing Huobi the opportunity to go public in Hong Kong via a process known as a reverse takeover. On the contrary, Li’s knowledge and experience will be invaluable to the Pantronics team.

The settlement of Huobi is now showing that China is truly working toward its goal of widespread blockchain adoption at a rapid pace, and that the country is gearing up for some big changes in the coming few years following President Xi Jinping’s call for adoption.

Huobi has invested in numerous blockchain enterprises in China as integration with the real economy is its tenet. As a major cryptocurrency exchange all over the world, Huobi will no doubt bring mature technology and enriched experience back to the state.