Cryptocurrency exchange platform, Huobi has announced it will be following in Binance’s footsteps. Thus, it will send aid to the victims of the Wuhan coronavirus.
The Singapore-based trading platform announced the setup of Huobi Charity to help provide aid to the victims of Wuhan coronavirus.
According to a post on twitter, Huobi’s first action of the new organization is to match Binance’s 10 million yuan fund.
Huobi sends love and support to everyone impacted by the coronavirus. Huobi decides to establish @HuobiCharity Charity,and set up a 10 Million RMB fund to purchase protective equipment and donate to the medical staff working at the frontline.#coronavirus #Wuhan #prayforwuhan pic.twitter.com/2GBhzVOEdE
— Huobi (@HuobiGlobal) January 27, 2020
It would be recalled that a few days ago, Binance’s CEO, Changpeng Zhao, pledged 10 million yuan (around $1.5 million) to help the victims of coronavirus. Many crypto firms followed suit.
Huobi establishing a charity fund
The exchange explains that the fund from the Huobi charity will help purchase protective equipment for staff working with the victims. This is all in a bid to control the virus’s spread and to provide financial assistance to the medical staff.
In its post, the new humanitarian section of Huobi further explains how the fund is going to be utilized. It noted that local branches in South Korea, Japan, the US, Argentina, Thailand, Indonesia, amongst other locations, are currently gathering protective medical equipment for those battling the virus.
Huobi also noted that it has already delivered 20,000 N95 breathing masks to hospitals in Huangguang, province of Hubei, China. Adding that more equipment will be delivered over the next two days across several of its offices in Hubei province. The exchange is reportedly hoping to provide another 200,000 sets of protective equipment to medical staff in the affected region.
Huobi boss role in China’s crypto industry
The founder of Huobi Group, Leon Li, plays a pivotal role in China’s effort to build a homegrown crypto-industry. He enjoyed favors from the Chinese government and was instrumental in the establishment of China’s first blockchain platform. He intends to set up a global hub for blockchain technology in the not so crypto-friendly country.
Notably, the Wuhan coronavirus outbreak has spread quickly, with more than 4,600 individuals now infected and 106 deaths recorded.