Huobi secures Nevada trust company licence

A subsidiary of the Huobi cryptocurrency exchange has received a licence from the Nevada regulator to provide trust services. This gives the platform the ability to resume operations in the United States.

In заявлении Huobi Technology Holdings Limited states:

«The board is pleased to announce that Huobi Trust, registered in Nevada and wholly owned indirectly by the subsidiary company, has recently been licensed to conduct trust business by the Nevada Financial Institutions Division of the Department of Business and Industry in Nevada.»

Huobi Trust has not yet begun providing services in this direction, the statement noted.

Huobi Technology Holdings Limited is the former electronics maker Pantronics Holdings Limited, which Huobi acquired to list on the Hong Kong Stock Exchange via a reverse takeover.

Huobi’s U.S. unit ceased servicing users in December last year.

Media reported that, with the Nevada licence, the platform could begin offering custodial services in the United States in a regulated environment from early 2021.

In November, a Chinese publication reported the arrest of Huobi’s co-founder and 17 key staff. The company denied the information.

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