Huobi continues to develop its activity in the cryptocurrency industry. This time, a company’s members announced that they obtained a license on Gibraltar, where applies British jurisdiction.
On Dec 5, Huobi Global’s Head of Global Institutional Business Lester Li shared at a London conference his 2019 expansion plans in UK, Huobi Institutional account features and benefits, Huobi Group’s investment criteria, as well as HUSD, Huobi’s stablecoin solution.#HuobiGlobal pic.twitter.com/k2EQjmmSWs
— Huobi Global (@HuobiGlobal) December 6, 2018
Due to this license, Huobi is aimed to expand its international platform, which was created for institutional investors and traders. The part of the release states:
“The new license gives Huobi the authority to store and transmit digital assets on behalf of clients worldwide”.
Thus, a platform can compete with such exchanges as Binance, Bittrex, and Coinbase, by serving many clients in various jurisdictions since regulatory mechanisms continue to evolve.
“It’s no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry”, – said Haoda Li, the head of the international business department.
“Among other benefits, our [Distributed Ledger Technology] license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere”.
Huobi is planning to launch a new service in the first half of 2019.
Earlier, we reported that Huobi launched a new platform for crypto traders.