Huobi Tech Leading the New Direction of Compliant Virtual Asset Custody

HONG KONG, Sept. 23, 2021 /PRNewswire/ -- Huobi Technology Holdings Limited ("Huobi Tech", Stock code: 1611.HK) is committed to becoming the leading one-stop virtual asset service platform, and is actively developing its trust and custodian business services provided by Huobi Trust Hong Kong and Huobi Trust US respectively. Huobi Trust Hong Kong is a trust company registered in Hong Kong, which provides clients with compliant virtual asset custody services. As of the end of August 2021, the asset under custody by Huobi Trust Hong Kong has exceeded US$1 billion.

Since the beginning of the year, virtual assets represented by Bitcoin have set off a wave of enthusiasm to investors. As the virtual asset regulations set out by different economies are getting more stringent, the legal and compliance issue of virtual assets has become the key concern for investors entering the crypto space. On the other hand, the numerous hacking incidents of virtual assets have raised investors' concerns over the security of virtual assets.

As one of the focused business lines of Huobi Tech, Huobi Trust Hong Kong was successfully registered as a trust company in Hong Kong on 29 April 2021, and is fully licensed under the Hong Kong Trust and Company Service Provider (TCSP) license (TCSP Licence No.: TC007494), as such its daily operations shall strictly abide by the relevant Hong Kong regulations as well as the AML/CTF requirements. Huobi Trust Hong Kong provides compliant virtual asset custody services to clients in need of compliant, secure, and risk isolated custody of their assets. Target clients include digital banks, market makers, licensed lenders, virtual asset exchanges to hedge funds etc. As of the end of August 2021, the asset under custody by Huobi Trust Hong Kong has exceeded US$1 billion.

A spokesman from Huobi Trust Hong Kong stated that "the seamless product design, comprehensive functional modules and strong support from the listed company enable Huobi Trust Hong Kong to provide clients with a full range of high-quality virtual asset services for different business needs and scenarios. We aim to become the world's leading virtual asset trust and custodian service provider."

About Huobi Tech              

Huobi Technology Holdings Limited ("Huobi Tech", formerly known as "Pantronics Holdings Limited", Stock Code: 1611) was listed in November 2016. Primarily engaged in OEM & EMS manufacturing of power-related and electronic products, Huobi Tech is also actively developing the blockchain ecosystem and virtual asset ecosystem business. Huobi Tech is committed to becoming the leading one-stop virtual asset service platform in Asia.

At the same time, Huobi Tech is applying for virtual asset and finance-related licenses in major markets around the world. Up to now, Huobi Tech's respective subsidiaries have successfully gotten the approval to conduct Type 4 (advising on securities) and Type 9 (asset management) regulated activities from the SFC, the Trust or Company Service Provider License (Hong Kong), the Trust Company License (Nevada USA), and registered as Hong Kong trust company.

SOURCE Huobi Technology