GIBRALTAR, Nov. 8, 2021 /PRNewswire/ -- Huobi Group announced that the migration of Huobi Global's spot trading business to its regulated Gibraltar platform will occur in a staged process with the support and approval of HM Government of Gibraltar's Ministry for Digital and Financial Services, having been given the green light by the Gibraltar Financial Services Commission ("GFSC") to commence this process.
Huobi Technology (Gibraltar) Co. Ltd, is already a fully licensed and regulated DLT service provider in Gibraltar ("Huobi Gibraltar"). The Gibraltar Government has aimed to provide the highest possible standards for regulated Virtual Asset Exchanges and has welcomed the migration of Huobi Global's spot exchange to its regulated platform in Gibraltar.
Gibraltar was the first jurisdiction to have introduced a purpose-built DLT legal and regulatory framework which commenced on the 1st January 2018. Later that year, in 2018, Huobi Gibraltar's DLT license was among the first batch of licenses granted by Gibraltar through this framework. With this license, Huobi Gibraltar has the authority to store and transmit digital assets on behalf of clients, providing a regulated, centralized exchange that can act as an alternative to OTC services.
About Huobi Group
Huobi Group, a world-leading blockchain company, was founded in 2013 to make breakthroughs in core blockchain technology and further the integration of blockchain technology with other industries. Huobi Group has expanded its products and services to public blockchains, digital asset trading, wallets, mining pools, proprietary investments, project incubation, digital asset research, and more. Huobi Group has established a global digital ecosystem through investing in over 60 upstream and downstream companies across the blockchain industry.