Huobi has got approval to position its subsidiary Brtuomi Worldwide in the British Overseas Territories. As per the reports, its subsidiary is the first crypto exchange worldwide to hold the license to provide crypto trading and derivatives services there. It is a great success for them and would allow them to bring a huge amount of users to their platform.
More on Huobi approval
Last Friday, Huobi announced that it had secured investment business licenses from the British overseas territory’s FSC, allowing them to continue expanding its global footprint. The license would allow them to operate an exchange platform under BWL, which would be great for them.
As per the announcements and details provided, BWL will offer people a wide range of crypto services, which includes spot trading of digital assets like BTC, as well as other forms of trading which is well known.
Huobi is also considered the first crypto exchange platform worldwide to operate in these Islands. They have the authority to run a crypto platform for both professionals and newcomers investors. It also indicates to the world what they are capable of and how rapidly they are going in this industry. According to reports, they are currently valued at 3 billion dollars, making it one of the biggest platforms.
Lily Zhang over Houbi Licence
Mr. Zhang, Chief Financial Officer of Huobi, said that they believe this approval will allow their exchange to have huge implications for the investors, as they would be the only exchange right now there to provide crypto derivatives products and also trading services which is not a small thing at all.
Besides that, Zhang stated that Huobi also holds significant distributed ledge tech licenses in Gibraltar territories. He also mentioned that their main focus is to work with the territory regulators to develop a suite of license trading services that can boost the crypto industry’s growth there. If they can do it, it would be perfect for the residents present there and for the market too.
What are your thoughts as Huobi plans to provide crypto services in British territories.? What do you think about how much time Huobi Group will take to expand to the whole UK? Let us know in the comments below. And, if you found our content informative, do share it with your family and friends.
Also Read: VARA approved Blockchain.com to provide crypto services in Dubai.