Huobi Licensed to Launch Fiat-to-Crypto Exchange in Thailand | BTCMANAGER
Bitcoin, Blockchain & Cryptocurrency News
Huobi Group, a leading Singapore-based digital assets exchange has announced that Huobi Thailand, its Thai-based subsidiary has secured a fifth license that would enable it to operate a crypto exchange in the region. Huobi Thailand will offer clients crypto-to-crypto trading as well as a crypto-to-fiat onramp starting from Q3 2019, according to a press release on July 25, 2019.
Houbi Thailand Going Live in Q3
As part of its larger plan to become a global bitcoin trading venue and exchange Houbi is set to go live in Thailand in Q3, 2019.
As stated in its press release, Huobi Global’s Thai arm, Huobi Thailand, has obtained the fifth license from financial regulators in the area to enable it to launch a crypto-to-crypto and crypto-to-fiat on and off-ramp in the coming months.
Specifically, Huobi Thailand will be powered by Houbi Cloud and it will operate as a fully regulated exchange in the country, making it possible for citizens and residents to easily buy supported virtual currencies with fiat money and vice versa.
As reported by BTCManager earlier in July 2018, Huobi Global launched its Blockchain Plus initiative and cloud service dubbed Huobi Cloud.
According to the firm, the primary objective of Huobi Cloud is to provide a one-stop solution for exchanges while also making it easy for partners to develop highly secure bitcoin trading platforms.
Huobi Global said at the time:
“Huobi Cloud will rely on Huobi’s existing digital asset exchange platforms,