Huobi HK offers crypto trading in Hong Kong for retail and institutional clients

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Huobi HK now offers spot crypto trading to retail and institutional clients in Hong Kong, after applying for a virtual asset exchange license.

The exchange submitted a notice of application to the Hong Kong Securities and Futures Commission on May 29, according to a statement on Twitter. Crypto businesses must apply for the license before they can start offering regulated services.

The platform will work with auditors and focus on compliance and anti-money laundering regulations, he added. This will aim to meet the requirements of the Hong Kong Securities and Futures Commission.

Hong Kong recently introduced a crypto licensing regime for crypto exchanges, to protect retail investors and enable innovation. Other companies, including BTSE, JPEX and OKX, have said they want to apply for the license.

Huobi’s Hong Kong offering operates through Huobi’s main website. The exchange said on May 26 that Huobi HK will list bitcoin and ether, among other major coins.

“Hong Kong web3 regulation will contribute to the widespread adoption of cryptocurrencies globally. Huobi will continue to work with Hong Kong regulators to support the development of a vibrant web3 hub,” said the stock market at the time.

Crypto exchange Huobi has recorded a trading volume of $12.7 billion so far this month, trailing larger exchanges like Binance, Coinbase and OKX.

© 2023 The Block Crypto, Inc. All rights reserved. This article is provided for informational purposes only. It is not offered or intended for use as legal, tax, investment, financial or other advice.

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