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Economy · Money Mkt takes over Japanese BitTrade, secures digital currency exchange license
2018/09/13 04:06:34
China's Financial News, China News,  Digital Currency

Sep 13, 2018 (China Knowledge) - China’s digital asset financial services provider Huobi announced it has taken control of the BitTrade exchange, which has a legal license in Japan. Huobi and BitTrade will merge and operate in Japan.

BitTrade, founded in 2016, holds a digital asset license authorized by Japanese financial services agency (FSA). Currently a total of 16 institutions in Japan have such legal license.

Japan is one of the world's important markets for digital assets, accounting for a third of global bitcoin trading volume in Japanese yen. After Huobi's holding, BitTrade will start a new journey.

According to the public information, Huobi was established in 2013, and now has preliminarily completed the global layout. Huobi has obtained legal exchange licenses or has established compliance teams in Singapore, Vietnam, South Korea, the United States, Australia, Britain and Canada, and has millions of customers around the world.

In addition, Huobi revealed that it will explore international markets such as Russia and Indonesia through the cloud technology cooperation.


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