Huobi Group Acquires BitTrade, Relaunches Japan-based Crypto Exchange

Huobi Group, a multinational cryptoasset financial services provider, has announced that the company’s Japan division has “relaunched” itself as a “fully regulated exchange” under Japan’s financial regulator, the Financial Services Agency (FSA).

“One Of The First” Exchanges To Be Licensed By FSA

Huobi Japan’s relaunch also involved the firm’s merger with BitTrade, a leading global trading company. Commenting on Huobi’s acquisition of BitTrade and the relaunch, Leon Li, the founder and CEO of the Huobi Group, remarked:

This is an important milestone for us. Firstly, because the Japanese market is a very important one to us and, secondly, because working with regulators is a longstanding priority for Huobi Group. We’re proud to say that Huobi Japan now has one of the first 17 licenses issued under the FSA’s ground-breaking regulatory regime.

Meanwhile, Haiteng Chen, the CEO of Huobi’s Japan-based operations, said:

We are extremely pleased to once again be offering our services to the Japanese trading public. We’re looking to continue to grow our presence here while offering top-notch digital asset trading services in Japan.

Secured By “A+ Ranked” SSL Encryption, 24/7 Support

At present, Huobi Japan’s crypto exchange supports trading in bitcoin (BTC), ether (ETH), bitcoin cash (BCH), litecoin (LTC), XRP, and monacoin (MONA). Similar to other leading crypto exchange operators, Huobi’s offices operate a 24/7 customer service support desk. Huobi Japan’s exchange platform also reportedly uses specialized security features including a Distributed Denial of Service (DDoS) attack “countermeasures system”, and “A+ ranked” SSL certification.

“To mark the occasion” (relaunch event), Huobi’s Japan-based exchange will not be charging transaction fees on both fiat and cryptocurrency trading “for a limited time.” Additionally, Huobi Japan will offer crypto and blockchain-related news updates in the Japanese-language. Huobi’s news and educational content is currently accessible through one of the company’s official Twitter accounts.

Huobi Introduces Beta Version Of EOS-based DEX

Huobi’s research division also provides “in-depth industry and market news” (in Japanese) that can be viewed at: https://coinpost.jp/?tag=huobi. As CryptoGlobe reported last week, Huobi has introduced a beta version of its EOS-based decentralized cryptocurrency exchange (DEX), which is referred to as “Huobi EOS.”

The DEX currently supports three trading pairs: EOS/BTC, EOS/ETH, and EOS/USDT. After receiving feedback from users, the Singapore-based exchange will reportedly consider adding more pairs.

As covered, Huobi Pool, the firm’s crypto mining division, announced (in December 2018) it would be launching a trading platform that will use EOS as a base currency. Cao Fei, Huobi Pool’s CEO, had said: 

As an EOS super node, Huobi Pool has placed its ecological development high on its list of priorities. Launching this EOS exchange is simply the next logical step in our support.