Huobi Obtains Gibraltar DLT License and Plans to Launch International Platform in 2019
[ChainDD report] December 7 (ChainDD) Cryptocurrency exchange Huobi obtained distributed ledger technology (DLT) license from Gibraltar, and will leverage it to build an international platform for retail and institution investor, with the hope of launch in the first half of 2019.
“The new license gives Huobi the authority to store and transmit digital assets on behalf of clients worldwide,” Huobi’s statement said. Lester Haoda Li, head of Huobi global international business, predicted that new license will allow Huobi open doors for more institution investors which are unable or unwilling to step into an unregulated field.
ChainDD noted that Huobi announced on Cryptofrontiers conference held in New York last week that it launched its derivatives trading platform Huobi Derivative Market (Huobi DM). Users will trade cryptocurrency contracts based on surge and fall of the cryptocurrency spot price. Huobi’s goal of launch is to provide hedging tools to control risks and uncertainty.