Huobi Global Enters Australia Following Approval by Regulators

Huobi Global Enters Australia Following Approval by Regulators
  • The Australian Transaction Reports and Analysis Centre (AUSTRAC) granted approval.
  • Huobi will be looking forward to concentrating on OTC services the most.

The Huobi global exchange has received complete authorization to operate in Australia and supply its services. The Australian Transaction Reports and Analysis Centre (AUSTRAC) granted Huobi, one of the biggest digital asset marketplaces in the world, a registration license.

One of the most recent accomplishments in the company’s quest to become worldwide is the addition of the new facility. Additionally, this accreditation marks the exchange’s first foray into the nation to provide crypto asset services.

Global Expansion Plan

Huobi is now able to provide services that include Australian or foreign currency for digital currency, digital currency to Australian currency, or other foreign currency transfers, following the recent clearance and regulations from AUSTRAC. This is a moment when Huobi will concentrate on OTC services the most.

Lily Zhang, CFO of Huobi said:

“We have always made security and compliance our highest priorities, as we believe that only under this principle can we grow alongside the industry to provide professional and secure services to our users.”

An early player in the global crypto trading market, Huobi Group has been working to expand its regulatory framework since last year. The Huobi Group has been given licenses to operate various cryptocurrency-related services by a number of countries and territories, including South Korea, Japan, Gibraltar, and others.

Last month, the Dubai Virtual Assets Regulatory Authority granted Huobi permission to operate in Dubai. The Hong Kong Securities and Futures Commission (SFC) also granted the exchange a trading license two weeks ago.

Founded in 2013, Huobi has been delivering digital asset services to more than a million customers since then. Currently, Australians may access the services offered by the exchange as it continues its development.

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A devoted content writer having 3 years of crypto trading experience. Loves cooking and swimming. Stays up to date with the latest developments on blockchain technology.