Huobi Global Seeks License to Expand in Hong Kong: Play, Earn, Build, Connect!

Crypto Exchange Huobi Global Expanding to Hong Kong

• Crypto exchange Huobi Global is seeking a license to expand its business in Hong Kong, allowing it to accommodate retail customers.
• The Chinese special administrative region is considering introducing new licensing and regulatory measures for exchanges.
• Huobi plans to open a new exchange named Huobi Hong Kong and increase staff from 50 to 200 by the end of the year.

New Regulatory Framework in Hong Kong

The Hong Kong Securities and Futures Commission (SFC) recently opened up new licensing proposals for public comment, which requires crypto exchanges to register with the SFC in order to expand their services in the city. As a result, financial services providers including crypto exchanges like Huobi are lining up to get registered under the new laws.

Huobi’s Plan To Expand Into Hong Kong

Huobi Global wants to get a license in order to accommodate retail customers as the Chinese special administrative region considers introducing new licensing and regulatory measures. Additionally, Huobi also plans on opening a new crypto exchange called Huobi Hong Kong that will focus on high-net-worth retail investors and institutions. Furthermore, Justin Sun, the founder of Huobi, stated that they plan on increasing their staff from 50 people currently employed in Hong Kong up to 200 by the end of this year.

Impact of New Regulations

The introduction of these stricter regulations has caused some exchanges such as Huobi Global to downsize their workforce by 20%. However, if approved for operating in Hong Kong after registering under these new regulations, then it could mean an influx of job opportunities as well as greater access for retail investors who would be able to trade cryptocurrencies through a more reliable platform provided by one of the leading cryptocurrency exchanges worldwide.


Overall, these changes could prove beneficial both for businesses seeking licenses as well as consumers who would gain access to more reliable platforms when trading cryptocurrencies while at the same time giving an opportunity for increased employment within this sector in Hong Kong.