- Huobi Technology, Hong Kong-listed virtual asset platform, has launched an Over the counter (OTC) service for the asset class.
- This virtual assets OTC trading service further enriches their line of business, says Simon Wu, the CEO of Huobi Tech.
- Huobi Tech is applying for various licenses related to virtual assets and finance in major markets globally and already holds some.
The publicly listed Hong Kong company, Huobi technology has recently launched an over-the-counter (OTC) service for cryptocurrencies.
Huobi Technology Holdings is a Hong-Kong listed virtual assets platform and was initially known as Pantronics Holdings, a maker of electronic products founded in 1990. Huobi Technology has been listed on the main board of the Hong Kong Stock Exchange (HKEX) since the year 2016.
Huobi Technology has been exploring the cryptocurrency sector for quite some time now, but it functions independently of the Huobi Group, which owns the Huobi Global Cryptocurrency Exchange.
This OTC trading service focuses on offering secure, compliant, and fast virtual asset block trading services with a minor impact on the market liquidity. It would also enable block trading across cryptocurrencies, fiat currencies, and stablecoins. This service is officially open to all its eligible clients and customers. The firm further plans to expand the service to the British pound, Euro, and Hong Kong Dollar in the future.
According to Simon Wu, CEO of Huobi Technology, this virtual asset OTC trading service is low price, compliant, convenient, and secure, further enhancing their line of business. And that the firm will continue to diversify its business in the future. And as the Huobi Brokerage is one of the key businesses sectors while tapping into the world of digital assets, they believe that it would evolve with Huobi tech’s other asset class services for their overall development.
Huobi Technology has initiated to offer varied crypto services in the past and offers OTC Brokerage, lending, trading platforms, etc. The firm is applying for virtual assets and finance-related licenses globally. It currently holds various licenses, including Security and Asset Management licenses from the Securities and Future Commission of Hong Kong, the Retail Trust Company Licence in Nevada, US, etc.
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Source: https://www.thecoinrepublic.com/2022/03/24/huobi-tech-launches-otc-trading-in-cryptocurrencies/