Crypto exchange Huobi has applied for a licence in Hong Kong to offer crypto trading to institutions as well as retail.
Huobi HK is on a mission to transform the crypto trading scene in Hong Kong and has taken a significant step by applying for a regulated crypto exchange license on May 29. This demonstrates their commitment to providing a secure and compliant platform for investors.
Huobi HK has already launched its spot trading services for both retail and institutional clients in the region, which is crucial for crypto enthusiasts looking for a reliable and seamless platform to carry out transactions. In their pursuit of transparency and regulatory compliance, Huobi HK has announced that they will work closely with auditors to meet the rigorous standards set by the Hong Kong Securities and Futures Commission (SFC).
On June 1, Huobi is getting ready for the launch of cryptocurrency trading in Hong Kong.
Hong Kong's move to introduce a crypto licensing regime is aimed at safeguarding retail investors while promoting innovation. The fact that notable firms such as BTSE, JPEX, and OKX have expressed their interest in obtaining a license highlights the recognition of Hong Kong as a leading hub for cryptocurrency, according to an article on The Block. Huobi HK operates seamlessly through the main Huobi website and offers a wide range of cryptocurrencies, including popular ones like bitcoin and ether. With an impressive trading volume of $12.7 billion this month, Huobi has established its presence in the market and earned the trust of traders worldwide by providing innovative solutions and expanding its influence in the crypto landscape.
As the journey continues, Huobi says that it remains committed to fostering collaboration with regulatory authorities in Hong Kong, and the development of a vibrant web3 hub could solidify Hong Kong's position as a pioneering force in the world of cryptocurrencies.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.