Hbit Technologies, the Huobi cryptocurrency exchange’s subsidiary, has received a license from FINTRAC to provide financial services in Canada.
📣#HuobiTech is pleased to announce today that our subsidiary, Hbit Technologies Limited, has successfully obtained MSB Registration License from the FINTRAC of #Canada. 🚀
Read more⬇️https://t.co/U7qYRuIOvx pic.twitter.com/IeyfFNXBP1
— Huobi Technology Holdings Limited (@HuobiTech) August 23, 2022
Hbit sits within the Huobi Tech Brokerage unit.
With an MSB license, the company may conduct regulated activities involving foreign exchange and digital assets in Canada.
Huobi said the North American crypto market is developing rapidly. The region plays a key role in the industry’s global landscape and demonstrates leadership on regulatory matters, the company added.
Several weeks ago, Huobi’s subsidiary received a MSB license from FinCEN in the United States and has now continued expanding its business on the continent, the press release said.
According to the statement, Huobi Tech was launched in early 2022. The over-the-counter trading volume through the unit since its launch has exceeded $800 million.
\”In its growth, Huobi Tech has consistently prioritised safety and compliance. Going forward, Huobi Tech will continue to expand its international business in the digital assets space,\” the company said.
Earlier in June, Huobi received a license to operate in New Zealand and a temporary approval from the Dubai Virtual Asset Regulatory Authority.
Since November 2021, one of the exchange’s subsidiaries has held a license for spot trading of cryptocurrencies in Gibraltar.
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