Huobi Japan has been permitted to register as a Type 1 Financial Instruments Business by the Japanese Financial Services Agency. The exchange will be able to trade, underwrite, and manage bitcoin futures due to this.
Yesterday, Huobi Japan issued a press release announcing the news. Huobi Japan will be able to offer other services besides derivatives, such as trading and market-making, as a result of the approval.
Only seven of Japan’s 34 cryptocurrency exchanges have this form of license, which can only be awarded to people who own particular amounts of crypto assets.
Haiteng Chen, CEO of Huobi Japan, stated:
Huobi token, the Huobi exchange’s native cryptocurrency token, has also been approved by the Japanese government as a “completely compliant crypto asset.”
For spot trading, Huobi Japan will offer 14 coins. Bitcoin, Ethereum, and the Huobi token will be among them.
Huobi Japan is committed to delivering a high-quality, secure exchange for Japanese users, and it is expanding its services throughout the country.