After obtaining a DLT license in Gibraltar, the Huobi cryptocurrency exchange revealed plans to launch a global infrastructure for clients.
According to Huobi representatives, the Gibraltar license gives the right to store and transfer cryptocurrency assets on behalf of clients all over the world. It will also simplify the exchange of fiat currencies for cryptoactives, according to a press release.
Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy. It's no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry. Among other benefits, our DLT license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.
Lester Haoda Li
Head of Global Institutional Business, Huobi London
In a press release, Huobi also notes that Gibraltar was the first jurisdiction to introduce a regulatory framework for the provision of technology services in a distributed registry.