Huobi Successfully Receives DLT License in Gibraltar

The third largest exchange by trading volumes, Huobi Global, announced the successful receipt of the Distributed Ledger Technology (DLT) license, issued by Gibraltar regulators at a London conference.

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Huobi is one of the first crypto companies to receive certification from the newly-established regulatory framework by the Gibraltar government.

The license allows Huobi to hold and send digital assets on behalf of its international clients. The license also offers possibilities for fiat-to-crypto and crypto-to-fiat transactions.

Lester Haoda Li, Head of Global Institutional Business, stated that the Gibraltar license would allow Huobi to create a fully-regulated exchange platform for institutional and corporate clients.

He added: "It's no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. 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."

This regulatory success also gives a trampoline to Huobi's future ideas, which incorporate a new look into the regulated digital asset space. Li stated that as a start, Huobi will launch OTC services in the first half of 2019. He explained: "Our intention is to give our clients advantages and a comprehensive 'one-stop shop' that was just not possible under the old paradigm."

At the meeting in London, Li and other Huobi officials additionally shared the advantages of having a Huobi Institutional account, the Huobi Group's venture criteria, and also HUSD, Huobi's stablecoin.

The meeting also highlighted a board of industry execs who shared their understanding of the eventual fate of their segments. The London meeting was directed by Julien Auchecorne, COO of XBTO, and included Simon Taylor, Co-author of 11FS and Global Digital Finance; Steve Kelso, CEO, Galaxy Digital Europe; Shane Kehoe, Co-Founder of SVK Crypto; and Bob Vosalik, Head of Europe, FBG Capital.

"Tonight, we were lucky to be in the same place with some of the main pioneers in this space," said Josh Goodbody, General Counsel for Huobi's Global Institutional Business. "As the year comes to an end, we needed to share this understanding and the uplifting standpoint for 2019."

Cryptocurrency exchange Cryptocurrency Regulations Huobi DLT Gibraltar exchange