- Huobi Global is also trying to establish a local exchange in Hong Kong.
- Justin Sun-led exchange wants to be the go-to place for Asian investors.
Market participants are making moves as Hong Kong’s officials attempt to restore the city’s status as Asia’s crypto powerhouse. Most recently, Huobi Global, headed by Justin Sun, revealed that it has sought a crypto trading license in Hong Kong.
Huobi Global, the company behind the Huobi exchange, is also trying to establish a local exchange in Hong Kong. Several trading pairs and services will be available, and the exchange will operate in full accordance with all applicable local laws.
Focusing on Unsaturated Asian Region
The focus of Huobi’s new exchange in Hong Kong will be on providing trading services to institutional and high-net-worth clients. Huobi Hong Kong wants to be the go-to place for Asian investors interested in the cryptocurrency sector who also value safety and reliability.
Justin Sun, commenting on the new situation, wrote:
“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. This is great news for traders and investors who are looking for a trusted and reliable platform to buy, sell, and store digital assets”.
Moreover, Huobi’s recent update follows the recent Bloomberg report that Hong Kong authorities are considering allowing retail investors to trade bigger crypto coins.
The Securities and Futures Commission (SFC) underlined today in a consultation document that individual investors may trade bigger crypto coins on registered crypto exchanges. It would make it possible for markets to include protections like risk assessments, competency tests, and sensible exposure limits.
