On December 5, Huobi Global released details on its Gibraltar-issued Distributed Ledger Technology (DLT) license and plans for a fully regulated cryptocurrency exchange.
The Gibraltar DLT license will allow the company to open a fully-regulated exchange for its Global Institutional clients and retail clients.
“Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere,” – said Lester Haoda Li, who, as the Head of Global Institutional Business, is based in Huobi’s London office.
The new license gives Huobi the authority to store and transmit digital assets on behalf of clients worldwide. In addition to bringing crypto-to-crypto trading within a fully regulated environment, the license also opens up possibilities for simplified and efficient fiat-to-crypto and crypto-to-fiat functionality that provides a welcome alternative to OTC services. This license also provides a springboard for Huobi’s future plans,which includes a concerted move into the regulated financial product space.
“To kick things off, we are launching with OTC services but we have no intentions of stopping there,” – said Li. – “Our intention is to give our clients advantages and a comprehensive ‘one stop shop’ that was just not possible under the old paradigm.”
Huobi expects to roll out these plans in the first half of 2019.