Huobi Group Obtains License to Operate Institutional-Grade Virtual Asset Trading Platform in the British Virgin Islands
Huobi Group (“Huobi”), one of the world’s leading digital asset service providers, has obtained approval from the Financial Services Commission (“FSC”) of the British Virgin Islands (“BVI”), to operate a licensed virtual asset exchange under its subsidiary Brtuomi Worldwide Limited (“BWL”).
Once all conditions are met, BWL will become the first digital asset trading platform operator in the BVI licensed to operate an institutional-grade virtual asset trading platform for professional and retail investors; this will include licensed financial institutions from around the world. The trading services that will be offered under BWL will include spot (cryptocurrencies such as Bitcoin and Ethereum), derivatives (such as perpetual and calendar futures), as well as other innovative products.
Lily Zhang, CFO of Huobi Group said, “This historic approval makes Huobi the first licensed digital asset exchange for institutional-grade derivatives in the British Virgin Islands. It is a testament to our experience, professional knowledge and track record in the global cryptocurrency industry.”
“We see a huge market opportunity in cryptocurrency derivatives, with perpetual futures accounting for around half of global cryptocurrency trading volumes in 2021. With the growing importance of compliance in the industry, We will strive to meet all regulatory requirements as we grow. cryptocurrency in the territory,” CFO Zhang concluded.
Since the Financial Action Task Force released the 2019 Public Statement on Virtual Assets and Associated Providers, global policymakers have accelerated legislation and regulation related to cryptocurrency. This latest approval from BVI regulators represents the progress made by the British Virgin Islands on this front and signals their overall support for virtual asset service providers as a whole.
The Huobi Group is committed to integrity, innovation and cooperation in the crypto industry and has established regulated entities in countries and regions such as Japan and Gibraltar. Huobi Group wants to meet the needs of institutions and professional investors who are looking for regulated partners and access to virtual assets on a global scale.
About Huobi Group
Founded in 2013, Huobi Group is one of the world’s leading digital asset service providers, with tens of millions of users across five continents and 160 countries and regions. We are committed to building financial freedom and creating new global wealth, having led the cryptocurrency industry in spot, derivatives and bitcoin transactions for many years. Our infrastructure, operations and offerings are built on processes and standards that prioritize user safety and industry compliance, backed by strong global customer support backed by local expertise. It offers a unique trading environment that is truly customer-focused, safe and sustainable for all users, enabling their long-term success. For more information, visit www.huobi.com
About Brtuomi Worldwide Limited and the BVI Regulatory Sandbox
On April 16, 2021, BWL was approved by the BVI FSC to participate in the BVI Regulatory Sandbox and listed on the BVI FSC Sandbox Participant Registry. In September 2022, Brtuomi Worldwide Limited was approved by the Financial Services Commission to operate as a digital asset trading platform operator in the British Virgin Islands and received an investment firm license.
Huobi Public Relations Team
See source version at newsdirect.com: https://newsdirect.com/news/huobi-group-secures-license-to-operate-institutional-grade-virtual-assets-trading-platform-in-the-british-virgin – islands-643183100
2022 News Direct Corp.