Huobi Strikes Gold in Gibraltar

Major cryptocurrency exchange, Huobi, has recently secured a Distributed Ledger Technology (DLT) license in Gibraltar, making waves in the crypto ocean. Think of it as getting a VIP pass to the coolest party in the crypto world!

What is this DLT License Anyway?

This shiny new license is not just a flashy accessory; it allows Huobi to store and transmit digital assets on behalf of clients globally. It’s like being given the keys to the kingdom but with more hashes and less medieval drama.

Why Gibraltar?

With a regulatory scene that’s as welcoming as a warm hug from Grandma, Gibraltar has attracted firms looking for a friendly place to operate. Huobi is setting up shop to serve both retail and institutional traders, giving competitors like Binance, Bittrex, and Coinbase a run for their crypto coins!

What’s Next for Huobi?

Huobi is not just dipping its toes in the waters; they are creating an entire wave! The company plans to introduce its international platform and is rolling out over-the-counter (OTC) services to kick things off. According to head honcho Lester Haoda Li, this endeavor will open doors for institutional investors who were hesitant to engage with the wild west of unregulated spaces.

Huobi in the Competitive Crypto Landscape

The exchange currently holds the title of the third-largest platform worldwide based on daily trading volumes, raking in approximately $466 million in trades within the last 24 hours alone. Talk about trading like a boss!

Gibraltar vs. Malta: The Battle for Crypto Dominance

As Gibraltar flexes its regulatory muscle, its vying for attention alongside Malta, which has been no slouch in attracting crypto businesses either. With recent approvals for blockchain platforms and a focus on blockchain skill development, it’s clear that both territories are in a race to become the go-to destination for cryptocurrency firms.