Huobi introduces regulated crypto exchange in Malaysia. On November 27, Huobi Global, Huobi Group’s flagship crypto exchange headquartered in Singapore, announced the launch of another independent platform licensed to use the Huobi name.
Targeting the Malaysian market, the new Huobi Labuan is launching trading services shortly after obtaining a digital asset trading brokerage licence from the Malaysian authorities in September 2020.
For the initial nine-month trial period, the new platform will be able to deliver crypto spot and derivative trading for over a dozen cryptocurrencies, including Bitcoin (BTC), Ether (ETH), EOS and Huobi’s native tokens.
In terms of infrastructure, Huobi Labuan will act as a local operating partner of Huobi Cloud, and therefore use Huobi’s established trading technology for its local digital transaction brokerage services.
Labuan is just the latest in a string of licensed Huobi platforms or subsidiaries: the seven-year-old brand has a foothold in Thailand, the United States via strategic partner HBUS, Argentina and Turkey, to name a few
Not withstanding the regulatory turbulence that exchanges are now facing in certain jurisdictions, Huobi has continued to expand its offerings, engaging with the DeFi space and decentralized internet projects such as Filecoin.
[image: Esmonde Yong]