Huobi Group obtains a crypto license in Dubai

Huobi Group, the major global crypto exchange, announced Friday it obtained a DIFC Innovation License in Dubai, seeing its development as a significant milestone in the group’s compliant growth. Huobi also got registration on New Zealand’s Financial Services Provider Register.

The DIFC Innovation License is a license for innovative technology companies in Dubai and provides benefits, such as access to a thriving tech ecosystem and preferential treatment for technology research and developments, capital repatriation, and taxes.

“Huobi attaches great importance toward regulation and compliance globally, and the two new licenses not only mark the major milestones for our global expansion but also reflect our determination to provide safe, regulated, and professional services to more users,” said Huobi Group CFO Lily Zhang.

Founded in 2013, Huobi Group is one of the world’s leading cryptocurrency exchanges, with tens of millions of users across five continents and 160 different countries. The group is currently the 8th largest crypto exchange in the world by trading volume.

“Meeting the compliance requirements and regulations is the foundation of our business. Only under this premise can we grow alongside the industry to meet the real needs of users, and this will continue to be our top priority for our global expansion efforts,” Zhang added.

Huobi has been working towards compliant growth since 2017. As of today, the group has obtained licenses for various cryptocurrency-related services in a number of different countries and regions, such as South Korea, Japan, Gibraltar, and others.

Last week, Huobi Global launched Ivy Blocks with more than $1 billion in crypto assets under management to invest in cryptocurrency projects globally.

The new investment arm will be providing three core services, according to the company. There will be a liquidity investment department providing an asset management platform for smart DeFi mining and income aggregation. There will also be Ivy Labs, a crypto and blockchain incubator, and Ivy Research, which focuses on blockchain and cryptocurrency research.

Ivy Blocks will no doubt contribute toward creating a better, more inclusive DeFi and Web 3 blockchain ecosystem.