Crypto Exchange Huobi Gets FSA License in Japan After Merging With BitTrade

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Singapore-based cryptocurrency exchange Huobi, one of the world’s largest exchange by daily volumes, has received the Japanese Financial Services Agency (FSA) approval to operate within the country.

The news comes following Huobi’s merger with BitTrade, in a relaunched move that will now see Huobi Japan operate legally within the country.

Huobi Group Founder and chief operating officer namely ‘Leon Li’, aforementioned that securing the license represents a big milestone for Huobi, considering the importance of the Japanese market.

Huobi Japan looks set to continue offering clients top-notch trading services while growing their international presence in Japan and worldwide.

Huobi Global’s completely owned subsidiary, Huobi Japan Holding Ltd., acquired a majority stake in BitTrade earlier in Sept. 2018. At that time, BitTrade was one among the solely sixteen crypto exchanges within the country to possess a secured license from national monetary regulator FSA [Financial Services Agency].

The FSA is known to have a tight grip on local exchanges, firmly reacting to security breaches after...

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