Huobi Group, a cryptocurrency exchange, gained licenses to launch a cryptocurrency trading platform in Thailand. This is the 5th time that an exchange acquireS a license. The Huobi Thailand exchange will be officially launched later this year.
As reported by the company, the new exchange will provide trading pairs in not only crypto-crypto but also crypto-fiat.
Huobi Group was founded in 2013 in China, however, it moved after the cryptocurrency exchange ban in 2017. The company is currently based in Singapore and has offices in Japan, THE US and Hong Kong. It is also listed in the TOP 20 cryptocurrency exchanges on coinmarketcap.
Huobi Group received the license from the Securities and Exchange Commission of Thailand. The approval of this agency became mandatory for crypto exchanges operating in the country in 2018.
The CEO of Huobi Thailand stated that the company is among the biggest crypto exchanges globally by volume and it has been offering secure cryptocurrency trading services for six years already. The company aims to ensure a secure trading environment in Thailand and is looking forward to cooperating with the authorities and domestic businesses.
Huobi is certainly trying to expand its influence to new markets. The company entered the US market in April 2019, Russia in 2018 and lately also established an office in Turkey.