Huobi introduces regulated cryptocurrency exchange in Malaysia

Huobi Global has just launched a licensed independent trading platform called Huobi Labuan after receiving a license to trade digital assets from the Malaysian authorities in September 2020.

During an initial test phase of 9 months, the new platform will be able to offer spot and derivative trading for over a dozen cryptocurrencies, including Bitcoin (BTC), Ether (ETH), EOS and HT tokens.

In terms of infrastructure, Huobi Labuan will act as the local operating partner of the Huobi Cloud and thus use Huobi’s established trading technology for on-site digital trade brokerage services.

As reported, Labuan is the latest in a series of licensed platforms or subsidiaries of Huobi, the seven-year-old company already established in Thailand, USA, through strategic partner HBUS, Argentina and Turkey.

Despite the regulatory chaos that exchanges are currently facing in certain jurisdictions, Huobi has continued to expand its offerings, addressing the DeFi space and projects. Decentralized internet like Filecoin.

At the time of going to press, Huobi Global is the second most ranked cryptocurrency exchange by daily trading volume and derivatives.

Thach Sanh

According to Cointelegraph

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