Through a merger with BitTrade, Huobi is a proudly licensed exchange that is once again operational in Japan. The merger makes Huobi among the 17 licensed crypto exchanges in Japan who have satisfied requirements put in place by the Japanese Financial Service Agency (FSA).
To be able to complete its merger, Huobi tasked Huobi Japan Holding Ltd to persuade BitTrade administrators to accept their offer. In September last year a deal was reached, and Huobi became the major shareholder in BitTrade. Before the acquisitions, BitTrade was among 16 crypto operators to have a license issued by the FSA. Huobi Japan Holding Ltd is a subsidiary under Huobi umbrella that has enabled Huobi to resume operations in Japan.
According to the press release, traders at the moment can successfully make trades against the local fiat currency Japanese Yen to buy any of the following digital coins Monacoin (MONA), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), Ethereum (ETH), and Bitcoin (BTC). In addition to supporting trading, Huobi users in Japan will get access to well-researched industry and market news from its Research department. Furthermore, users will also get educational information and emerging news and updates from the crypto space via Huobi Twitter account in their local language. And in a bid to usher its exchange in Japan, traders will not incur any fees when making transactions on the exchange for an unspecified period.
To be able to fulfill the FSA requirement, Huobi didn’t leave any stone unturned. Its Japan exchange has A+ ranked SSL certification the highest in the sector, countermeasure security system to prevent a Distributed Denial of Service attack (DDoS), and a specialized distributed architecture. On the other hand, its customer support channels will be open 24/7 via email to sort all challenges that customers might experience. Further on, Huobi Japan exchange security docket has highly trained security personnel to take care of all security matters.
Although Huobi was launched in China in 2013 the crackdown by the Chinese government forced the exchange to relocate to a crypto friendly environment. For Huobi Singapore was the perfect place for its exchange. Though headquartered in Singapore Huobi has offices globally. It’s just recently that Huobi entered the US market through a rebranding process that involved its firm and HBUS. With its recent acquisitions, Huobi is making a name for itself in the crypto industry.