Huobi Launches Hong Kong Exchange: Trade BTC, ETH, TRX & HT

• Huobi Global announced the launch of its Hong Kong division on June 1st to offer trading pairs and services to customers.
• The expansion comes in the backdrop of the Hong Kong Securities and Futures Commission’s (SFC) decision to allow retail trading in cryptocurrencies.
• Huobi has also undergone a rebranding and is exploring strategic mergers and acquisitions, investments across Southeast Asia, Europe, and other regions.

Huobi to Launch Hong Kong Venue on June 1st

Huobi Global announced gearing up for the launch of its Hong Kong division on June 1st for users in the city-state. The new venue called Huobi Hong Kong will be “fully compliant with local regulations and offer a range of trading pairs and services to customers“. At launch, the users will be able to trade Bitcoin (BTC), Ether (ETH), Tron (TRX), and Huobi Token (HT).

Hong Kong Securities Regulator’s Move

The move from the city-state’s securities watchdog had unveiled new plans to enable retail investor access to virtual assets platforms came after a year of turmoil in the sector. The decision by Securities and Futures Commission’s (SFC) was made allow retail trading in cryptocurrencies.

Huobi Rebranding

As first step of its expansion plans, Huobi underwent a rebranding in November last year after its acquisition by About Capital Buyout Fund. It sought to establish a presence in Caribbean region while exploring strategic mergers & acquisitions globally as well as ramp up investments across Southeast Asia, Europe & other regions. However their tryst with Malaysian regulatory agency was not successful.

Strict Compliance Rules Applied

In terms of compliance rules set up by SFC, all exchanges are required to meet anti-money laundering standards along with proper cyber security protocols & customer protection measures such as restriction on leverage & derivatives products etc. To ensure these rules are followed properly an internal audit team will be appointed at exchange level itself who would monitor activities closely.

Conclusion

In order for cryptocurrency exchanges based out of Hong Kong to operate they must comply with strict regulations laid by SFC which is why Huibi went through their rebranding process before launching their HK division on June 1st offering 4 different types BTC, ETH, TRX & HT ,will open doors for more crypto based platform operating from this region .