One of the leading cryptocurrency exchanges, Huobi, have secured a Distributed Ledger Technology (DLT) license in Gibraltar, with plans to roll out a global exchange in 2019, according to reports.
Huobi are using Gibraltar’s encouraging regulatory framework, which will allow the exchange to “store and transmit digital assets on behalf of clients worldwide.”
Huobi also launched a derivatives market in the US last week. All of these recent developments are part of the plan to bring cryptocurrency markets to a worldwide audience.
On Dec 5, Huobi Global's Head of Global Institutional Business Lester Li shared at a London conference his 2019 expansion plans in UK, Huobi Institutional account features and benefits, Huobi Group’s investment criteria, as well as HUSD, Huobi’s stablecoin solution.#HuobiGlobal pic.twitter.com/k2EQjmmSWs
— Huobi Global (@HuobiGlobal) December 6, 2018
Lester Haoda Li, Huobi’s head of global international business, said: “It’s no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry.”
Li continued: “Among other benefits, our [Distributed Ledger Technology] license will allow us to open doors to more institutional investors who were previously unable or unwilling to get involved in an unregulated sphere.
“To kick things off, we are launching with [over the counter] services, but we have no intentions of stopping there.”
Huobi become the latest exchange to implement features in relation to the OTC market, with Poloniex and Coinbase also offering support in recent months.