Thailand grants Huobi digital asset trading licence
Global blockchain company, Huobi, has received the fifth digital asset trading licence to be granted by Thailand’s Ministry of Finance, reports Jane Connolly.
Huobi can now begin local fiat trading and token trading services.
Following the May 2018 announcement that all companies in Thailand operating in digital assets must obtain a licence, four licences were granted in January – to Bitcoin Exchange, Bitkub Online, Satang Corporation and digital asset broker Coins TH Co. Three applicants were denied licences.
Huobi Thailand is built on Huobi Cloud, which the company says is a one-stop solution for global digital asset exchanges.
Sakda Katekaew, head of Huobi Thailand, says: “Huobi Thailand will provide Thai users with secure and reliable digital asset trading services through Huobi Cloud’s verified technical capabilities. In the field of digital asset trading, Huobi is one the largest exchanges in the world by trading volume and has accumulated six years of experience in safe operation.”
He adds: “After entering Thailand, Huobi will also actively cooperate with the government and local enterprises to explore the application scenarios of blockchain.”
Huobi already has one of the first DLT licences issued under Gibraltar’s purpose-built regulatory regime, along with a No.0007 exchange licence in Japan and a US strategic partner that holds an MSB plus MTL licences in 12 states.
Last year, the Bank of Thailand announced the development of its official virtual currency, Intanon.