Huobi’s New Horizon: DLT License Acquisition
In an exciting twist for the cryptocurrency universe, Singapore’s major exchange, Huobi, has officially snagged a Distributed Ledger Technology (DLT) license from Gibraltar. The anticipation surrounding this announcement, shared with various media outlets including the ever-buzzing Cointelegraph on December 5, marks a significant step forward for the exchange’s global aspirations.
Retail Meets Institutional: Dual Focus Strategy
The Gibraltar license is like a golden ticket for Huobi, enabling it to cater to both retail and institutional traders. The chief executive emphasized that this new regulatory approval grants them the “authority to store and transmit digital assets on behalf of clients worldwide.” Talk about an all-you-can-eat buffet for crypto enthusiasts! This move positions Huobi to compete head-to-head with established players like Binance, Bittrex, and Coinbase.
Diving into Derivatives: Huobi’s U.S. Launch
Just last week, Huobi made headlines by launching a derivatives market in the U.S.—perfect timing, considering the surge in interest surrounding crypto derivatives. The exchange is clearly setting its sights on becoming a key player in this evolving market landscape.
Regulatory Framework: The Key to Institutional Interest
Huobi’s head of global international business, Lester Haoda Li, chimed in, stating, “It’s no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry.” His insight reflects a broader industry sentiment: regulation could help tame the wild world of cryptocurrency, making it more appealing for institutional investors who have so far kept their distance.
What’s Next for Huobi?
Huobi plans to roll out its services in the first half of 2019, starting with over-the-counter (OTC) services. That’s right! They are not just dipping toes into the water; they are diving right in, and they’re looking to spice things up as they further expand their offerings.
The Gibraltar Advantage: A Hub for Blockchain
As Gibraltar continues to enhance its reputation as a friendly environment for cryptocurrency and blockchain businesses, it is fast becoming the go-to spot, similar to Malta’s standing in Europe. With Gibraltar’s local stock exchange also gaining regulatory backing for its blockchain platform, the region is well on its way to cementing its position as a beacon for innovation in the cryptocurrency space.
A Conclusion with a Wink
As Huobi gears up for this exciting chapter, one thing is clear: the cryptocurrency realm is evolving, and exchanges that embrace regulatory changes will likely emerge as the true winners in this digital gold rush.
+ There are no comments
Add yours