Crypto exchange Huobi has applied for a licence in Hong Kong to offer crypto trading to institutions as well as retail.
Huobi HK has embarked on a journey to revolutionise the crypto trading landscape in Hong Kong. The company made a significant stride on May 29 by applying for a coveted regulated crypto exchange licence, demonstrating its commitment to providing a secure and compliant platform for investors.
With the licence application underway, Huobi HK has rolled out its spot trading services to both retail and institutional clients throughout the region. This move is important for crypto enthusiasts seeking a reliable and trustworthy platform to engage in seamless transactions.
As part of their dedication to transparency and regulatory compliance, Huobi HK revealed that they will collaborate closely with auditors to ensure the highest standards of accountability, striving to meet the rigorous requirements set forth by the Hong Kong Securities and Futures Commission (SFC).
The introduction of a crypto licensing regime by Hong Kong reflects a desire to protect retail investors while fostering an environment conducive to innovation. According to an article on The Block, notable firms like BTSE, JPEX, and OKX have also expressed their intent to pursue a licence, illustrating the industry's recognition of Hong Kong as a leading hub for cryptocurrency.
Operating seamlessly through the main Huobi website, Huobi HK offers a comprehensive selection of cryptocurrencies, including popular options like bitcoin and ether.&nbsp;
Huobi has firmly established its presence in the market, with an impressive trading volume of $12.7 billion so far this month. This achievement speaks volumes about the trust placed in Huobi by traders worldwide, as the crypto exchange continues to deliver innovative solutions and expands its influence within 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.

Huobi readies for Hong Kong’s crypto trading launch on June 1

Crypto Daily™

Other articles published on May 29, 2023

PAU Students Gain Valuable Insights on Blockchain Education from Emurgo.

Bitcoin.com's VERSE Token Now Available for Trading on Kucoin

Bitcoin Price Analysis: Stops Elected Above 28347 - 30 May 2023

UNICEF’s Crypto Experiment: How DAOs Will Revolutionize Humanitarian Aid

Binance Reflects Positive Attitude Toward BRC-20 Token Listings

Users accumulating stablecoins as bitcoin and crypto prices rally

Join our free newsletter for daily crypto updates!