Huobi Global Exchange gets green light to operate in Australia
Categories: Crypto News US
HuobiGlobal Exchange gets green light to operate in Australia
Former China-based crypto exchange Huobi Global is free tooffer its services after successfully registering as a digital currencyexchange provider with Australian transaction reports and analytics Centre(AUSTRAC).
GlobalExpansion Plan Moves Ahead
After also obtaining licences in New Zealand and the UnitedArab Emirates in June, Huobi is now eyeing a move into the US market. AnAmerican subsidiary, HBIT, was established last month and Huobi has alreadyreceived a Money Services Business licence with the intention to launch fullexchange services in the US down the line.
Huobi was forced to move to Gibraltar after China's mostrecent cryptocurrency in late 2021. The company has since opened offices inJapan and South Korea, although it has struggled to find a foothold inThailand, closing after failing to comply with Thai Securities and ExchangeCommission regulations. Last month Huobi was given permission tooperate in Dubai.The Hong Kong Securities and Futures Commission also grantedtrading license to the exchange two weeks ago.
HuobiStarts With OTC Services in Australia
In Australia, Huobi will initially offer legal tender for cryptocurrencytrading. The company's chief financial officer Lily Zhang said thelocal office will focus on OTC services. Since its founding in 2013, Huobi hasbeen providing digital asset services to over one million customers worldwide.That number is set to grow exponentially if the US opens its doors.