According to a press release from Cointelegraph, major Singaporean cryptocurrency platform Huobi has received a so-called distributed ledger technology (DLT) license in Gibraltar.
Houbi will use this license to launch an international platform targeting both retail and institutional investors.
At the moment, Huobi is the third exchanger in the world in terms of trading volume. Last week, the company also launched a derivatives market in the US.
“It's no secret that we believe a quality regulatory framework is a key component necessary for the development of the crypto industry. Among other benefits, this license will allow us to attract more institutional investors who have been reluctant to deal with an unregulated industry," said Houbi's head of international business, Lester Haoda Lee.
Company representatives expect to launch the new platform in the first half of 2019.
Gibraltar is quickly catching up with its European rival, Malta, in attracting cryptocurrency enterprises. The Gibraltar Stock Exchange has received regulatory approval to create a blockchain platform, and the government is trying to meet the growing demand for blockchain specialists.
According to cointelegraph.com
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