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A cryptocurrency trading platform, has obtained additional licences in New Zealand and the United Arab Emirates as part of its ongoing global expansion. Huobi Group secured the company’s first-ever licence at the Dubai International Financial Centre (DIFC) by obtaining the Innovation License under the DIFC.
Lily Zhang, the chief financial officer of Huobi Group, reports that the business has been granted a DIFC licence by Dubai’s Virtual Assets Regulatory Authority (DIFC). The DIFC enables Huobi to encourage technology businesses to establish operations in Dubai rather than serving as a trade licence. In order to provide its services in New Zealand, Huobi has also been registered on the Financial Services Provider Register (FSPR). The Virtual Assets Regulatory Authority (VARA) in Dubai will grant Huobi a Virtual Asset MVP License, enabling it to provide a variety of cryptocurrency exchange goods and services.
All exchanges are obliged to register on the platform in order to provide trading services to local users, therefore the FSPR registration is the first step Huobi Group has taken toward growing its bitcoin trading business in New Zealand.
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