Huobi Seeks License in Hong Kong and Plans to Launch New Branch

Fazzaco learned that the Singapore-based crypto trading platform Huobi is looking to secure a crypto trading license in Hong Kong, in which the financial watchdog proposed shortly before a relaxation of rules banning retail investors from buying crypto tokens from licensed platforms​.

Besides, Huobi plans to launch a new branch in the city, named Huobi Hong Kong. The new unit will be fully compliant with local regulations and offer a range of trading pairs and services to customers, targeting institutional investors and high net worth individuals, according to a tweet by the crypto exchange's Global Advisory Board member and its new leader Justin Sun on February 20.

"With the new license, Huobi will be able to expand its services and offerings to customers in Hong Kong, providing a wider range of crypto trading and investment options," noted the exec.