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Recently, Huobi Japan gets approval to offer crypto derivatives as a Type I Financial Instruments Business. More so, this approval is from Japan’s Financial Services Agency (FSA). Furthermore, FSA is the regulator for financial services in Japan.
Currently, the exchange offers spot trading for 14 cryptocurrencies, including Bitcoin, Ethereum and Huobi Token.
As per a statement, Huobi Japan notes that FSA’s approval is major milestone for the business.
“It will enable us to expand business beyond spot trading…”
“and fuel the next phase of our growth in Japan,”
Haiteng Chen, CEO of Huobi Japan, says.
“Going forward, we plan to develop a number of crypto…”
“derivatives products to meet the growing demands of the market.”
Lastly, Huobi becomes one of the seven cryptocurrency exchanges in Japan that holds this license. Meanwhile, there’s 31 licensed cryptocurrency exchanges in Japan as of Sept. 30, according to the FSA.
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