The approval gives Huobi’s United Arab Emirates (UAE)-based entity the authority to offer 'a full suite of virtual asset exchange products and services.' virtualassets cryptoexchange
, the crypto exchange said it will be targeting so-called professional investors. Concerning spot and over-the-counter trading services, Huobi said these will be extended “to a limited subset of pre-qualified investors and professional financial service providers.”Huobi also suggested that getting the provisional license paves the way for the establishment of the exchange’s regional headquarters in Dubai.
The Dubai Government is committed to turning the Emirate into a global hub for the future digital economy and being at the forefront of financial innovation. Huobi is optimistic about the city’s potential and the future opportunities it offers. Zhang added that her organization is looking to work to “foster growth of the virtual asset industry there.”
Besides the license from VARA, Huobi said in the statement that it has also obtained licenses in other regions such as South Korea, Japan, and Gibraltar.
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