There’s now an additional cryptocurrency exchange serving the Malaysian market, after a new Huobi-linked platform announced its launch Friday.
- Huobi Labuan said in an emailed press release that it aims to provide users in the nation with a “safe and regulated” platform for trading cryptocurrencies.
- The exchange received a digital asset trading brokerage service license from “Malaysian authorities” in September for a nine-month trial period of operation, according to the release.
- Under the license, Huobi Labuan is permitted to provide spot and derivatives trading services in Malaysia.
- The exchange will initially support over a dozen different crypto assets including bitcoin, ether, EOS and Huobi’s own HT token. After the trial period, more cryptocurrencies can be added.
- The crypto exchange has been set up as a “local operating partner” of Huobi Cloud – a scheme allowing “vetted partners” to launch exchanges leveraging Huobi’s trading technology and digital asset infrastructure.
- CoinDesk reached out for further details on which authorities precisely provided the license and who the partner entity is, but did not immediately hear back.
- Huobi Global is the world’s second largest cryptocurrency spot exchange by volume, according to CoinMarketCap.
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