Huobi Global Retirement Schedule for Singapore-based User Accounts
Dear Valued Users,
Further to the announcement including Singapore as a restricted jurisdiction (https://www.huobi.com/support/en-us/detail/94890776278324), Huobi Global emphasizes that its paramount concern is to permit Singapore-based users to retire their accounts in an orderly manner and to ensure the safety of their digital assets.
Please see the current schedule for retirement of the following services on Huobi Global for Singapore-based users: ETPs, Margin Trading, Grid Trading, Futures Products, Huobi Earn, OTC Trading, Deposit Services, Cloud Wallet, Spot Trading, and Airdrop Services.
I. ETPs, Margin Trading, and Grid Trading
1. ETPs
Singapore-based users will no longer be able to subscribe for ETPs from 08:00 (UTC) on Feb 25, 2022, and will no longer be able to redeem their ETP holdings from 07:55 (UTC) on Mar 16, 2022. At 08:00 (UTC) on Mar 16, 2022, the ETP holdings of Singapore-based users will be automatically redeemed at their current price. After the automatic redemption of their ETP holdings, Singapore-based users will receive the redemption amounts in their exchange account within 14 days.
We highly recommend that Singapore-based users redeem their ETP holdings before 07:55(UTC) on Mar 16, 2022, to avoid any potential risks.
2. Margin Trading
The loan service on margin trading will be no longer available to Singapore-based users from 08:00 (UTC) on Feb 25, 2022. At 08:00 (UTC) on Mar 17, 2022, any outstanding margin trading loans will be automatically repaid with digital assets from the margin accounts of Singapore-based users. 48 hours after 08:00 (UTC) on Mar 17, 2022, any digital assets remaining in the margin accounts of Singapore-based users will be automatically transferred to their exchange accounts.
We highly recommend that Singapore-based users repay margin trading loans before 08:00(UTC) on Mar 17, 2022, to avoid any potential risks.
3. Grid Trading
Singapore-based users will be no longer be able to set new Grid Trading strategies and new Contract Grid Trading strategies, and any ongoing Grid Trading strategies and Contract Grid Trading strategies will be automatically terminated at 08:00 (UTC) on Feb 24, 2022. Any remaining digital assets will be transferred to their exchange accounts.
We highly recommend that Singapore-based users terminate any ongoing Grid Trading strategies before 08:00 (UTC) on Feb 24, 2022, to avoid potential risks.
II. Coin-margined Swaps, USDT-margined Swaps, and Coin-margined Futures
1. Coin-margined Swaps
Singapore-based users will no longer be able to open positions from 08:00 (UTC) on Feb 25, 2022.
We highly recommend that Singapore-based users close their existing positions before 08:00 (UTC) on Feb 25, 2022, to avoid any potential risks.
2. USDT-margined Swaps
Singapore-based users will no longer be able to open positions from 08:00 (UTC) on Feb 25, 2022.
We highly recommend that Singapore-based users close their open positions before 08:00 (UTC) on Feb 25, 2022 to avoid any potential risks.
3. Coin-margined Futures
Singapore-based users will not be able to open new coin-margined bi-quarterly positions from 08:00 (UTC) on Dec 17, 2021, they will be able to continue to open new coin-margined weekly, monthly and quarterly positions. From 08:00 (UTC) on Feb 25, 2022, Singapore-based users will no longer be able to open any new positions.
We highly recommend that Singapore-based users close their existing positions before 08:00 (UTC) on Feb 25, 2022, to avoid any potential risks.
III. Huobi Earn
Singapore-based users will no longer be able to deposit their digital assets into Huobi Earn featured and fixed products from 08:00 (UTC) on Feb 24, 2022, and into Huobi Earn flexible products from 08:00 (UTC) on Feb 24, 2022.
We highly recommend that Singapore-based users withdraw their digital assets in Huobi Earn flexible products before 08:00 (UTC) on Feb 24, 2022, to avoid potential risks. Any remaining digital assets will be transferred to their exchange accounts.
IV. OTC Trading
OTC Trading (fiat trading) will cease the purchase and sale of digital assets with the Singapore dollar (SGD) as well as all OTC Trading services to Singapore-based users from 14:00 (UTC) on Mar 31, 2022.
V. Deposit Services, Cloud Wallet, and Spot Trading
1. Deposit Services
Singapore-based users will not be permitted to deposit new digital assets to their Huobi Global account wallets from 08:00 (UTC) on Mar 30, 2022. They will not be prevented from transferring digital assets between their sub-accounts and their exchange account.
2. Cloud Wallet
Huobi Global will no longer allow Singapore-based users to create new Cloud Wallet accounts from 08:00 (UTC) on Mar 31, 2022. In addition, existing Singapore-based users with a Cloud Wallet account will not be able to access any services on Cloud Wallet other than withdrawal services.
3. Spot Trading
Huobi Global will cease Spot Trading services for Singapore-based users from 08:00 (UTC) on Mar 31, 2022. After the retirement of Spot Trading services, any pending orders for Singapore-based users will be canceled.
VII. Airdrop Services
Huobi Global will be stopping Airdrop services for Singapore-based users from 08:00 (UTC) on Mar 31, 2022. After 08:00 (UTC) on Mar 31, 2022, Singapore-based users will no longer be able to receive any airdrop tokens. Huobi Global will release further updates from time to time in respect of specific airdrop tokens.
We recommend Singapore-based users to withdraw their tokens from Huobi Global before 08:00 (UTC) on Mar 31, 2022 in order to receive their airdrop tokens.
Huobi Global Digital Asset Withdrawal Update
We wish to reiterate that during the process of ending our services to Singapore-based users, the security of our Singapore-based users’ digital assets is our greatest concern. Huobi Global will work towards ensuring that our Singapore-based users are able to withdraw their digital assets from their accounts.
After 16:00 (UTC) on Mar 31, 2022, current Singapore-based users will have all services and functions to their accounts disabled. These users will only be able to log into their accounts on Huobi Global to view their personal information, view their account balance, and withdraw their digital assets.
Huobi Global will give our Singapore-based users timely updates in respect of any additional relevant information or changes to the above schedule or in respect of their account access after 16:00 (UTC) on Mar 31, 2022. Please contact our customer service (support@huobi.com) if you have any questions.
Huobi Global
December 9, 2021
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