Cryptocurrency gained widespread recognition in 2020, with "Big Four" digital asset platforms dominating discussions. Yet, many newcomers remain unaware of how these industry giants—ZB, OKEx, Huobi, and Binance—emerged. This article explores their formative journeys through pivotal moments in crypto history.
ZB: The Silent Powerhouse (2013-Present)
Founded in June 2013 by Hua Songxiu's team as CHBTC, this platform capitalized on three strategic advantages:
- Premium domain ownership
- First-mover advantage in China's nascent crypto market
- Enterprise-grade security infrastructure
The 2017 regulatory shift ("94 Incident") became a turning point:
- Obtained international operating licenses
- Rebranded as ZB (Zhong Bin)
- Shifted headquarters overseas
👉 Discover how top exchanges ensure fund security
Unlike competitors spending heavily on marketing, ZB prioritized:
- Institutional-grade risk controls
- Multi-signature cold wallet storage
- 24/7 customer support
This "substance over style" approach maintains its position among trading volume leaders despite lower mainstream visibility.
OKEx: The Contract Trading Pioneer (2013-Present)
Star Xu's OKCoin launched in October 2013 through Beijing-based LeCoolDa Network Technology. Key milestones:
- Achieved ¥4B daily volume growth within 18 months
- Launched international arm OKEx in 2016
- Pivoted to derivatives post-2017 regulations
Core competitive edges:
- Industry-leading perpetual contracts
- 99.99% uptime guarantee
- Insurance-backed trading engine
Huobi: The Global Expansionist (2013-Present)
Li Lin's venture attracted early investment from:
- ZhenFund (Angel round)
- Dai Zhikang (Angel investor)
- Sequoia Capital ($10M Series A)
Post-2017 strategy involved five global business units:
| Division | Focus |
|---|---|
| Huobi Pro | Spot trading |
| Huobi Korea | KRW markets |
| Huobi Wallet | Asset management |
| Huobi China | Blockchain R&D |
| Huobi US | USD trading |
The platform processed ¥20T cumulative volume by 2016—equivalent to 20% of China's GDP that year.
Binance: The Disruptive Phenomenon (2017-Present)
Zhao Changpeng's exchange achieved unprecedented growth:
- Top 10 by volume in 42 days
- Market leader in 165 days
- 6M+ registered users (30% US traders)
Key success factors:
- Perfect regulatory timing (post-94 Incident)
- Native BNB token economics
- Multi-platform ecosystem
👉 Learn about exchange-native utility tokens
Comparative Timeline
| Year | ZB | OKEx | Huobi | Binance |
|---|---|---|---|---|
| 2013 | CHBTC founded | OKCoin launched | Founded + angel funding | - |
| 2016 | - | OKEx international launch | ¥20T volume milestone | - |
| 2017 | Rebranded as ZB | Domestic exit | Global expansion | Platform launch |
FAQ: Understanding Exchange Histories
Q: Which exchange had the most dramatic growth?
A: Binance's rise to #1 within six months remains unmatched in financial market history.
Q: How did regulations impact these platforms?
A: The 2017 Chinese regulations forced all four to restructure internationally, accelerating global expansion.
Q: Which exchange prioritizes institutional traders?
A: ZB's enterprise-focused model contrasts with Binance's retail-friendly approach.
Q: What's Huobi's advantage in Asian markets?
A: Localized subsidiaries like Huobi Korea capture regional liquidity effectively.
Q: Why does OKEx dominate derivatives?
A: Early investment in contract trading infrastructure created network effects.
Conclusion: Choosing Your Trading Venue
Each platform carved distinct niches:
- ZB: Security-focused spot trading
- OKEx: Derivatives sophistication
- Huobi: Regional market depth
- Binance: Retail product variety
👉 Compare exchange features side-by-side
Disclaimer: This content represents the author's analysis only and does not constitute financial advice. Cryptocurrency trading involves substantial risk.