Huobi acquires licensed cryptocurrency exchange in japan

The Huobi Exchange has acquired a controlling stake in the Japan-based BitTrade exchange, which aims to significantly scale the trading platform and increase its global recognition.

Located in Singapore, the Huobi Exchange was originally founded in China in 2013 and has grown beyond the borders in several countries over the years, including Hong Kong, Korea, Japan and the United States.

Huobi is one of the five best cryptocurrency exchanges in the world, with accumulated trading volume over $ 1 trillion since its inception and own trading of tokens above $ 1.50, as quoted by CoinmarketCap.

Earlier this year it was reported that the exchange expanded into the European market, opening an office in London.

Huobi refused to disclose the amount of the transaction and its exact share in BitTrade.

On the other hand, BitTrade as a stock exchange can also boast of its achievements and the creation of its own reputation in the cryptocurrency market. The exchange is one of 16 licensed cryptocurrency exchanges in Japan that came together to form a self-regulating body, shortly after the infamous theft from the Coincheck stock exchange of $ 530 million earlier this year.