Huobi Gains Gibraltar DLT License, Plans Global Exchange Rollout in 2019

Major Singapore-based cryptocurrency exchange Huobi has gained a so-called Distributed Ledger Technology (DLT) license in Gibraltar, a press release shared with Cointelegraph confirmed Dec. 5.

Huobi, which is leveraging the U.K. territory’s encouraging regulatory perspective on the cryptocurrency industry, will use its new status to launch an international platform geared to both retail and institutional traders, the release states, stating:

“The new license gives Huobi the authority to store and transmit digital assets on behalf of clients worldwide.”

In so doing, it will compete with fellow exchanges including Binance, Bittrex and Coinbase in serving traders in as many jurisdictions as possible as regulatory frameworks continue to evolve.

Last week saw Huobi launch a derivatives market in the U.S.

“It’s no secret that we think that well-designed regulatory regimes are a key part of the future for the cryptocurrency industry,” head of global international business Lester…