Huobi will launch crypto exchange in Thailand

The platform announced its expansion plan in the country to offer the population the fully regulated cryptocurrency exchange

Huobi’s subsidiary in Thailand has obtained the official license of the country as a digital asset operator under the country’s regulation, according to an official announcement on Thursday. The platform opens a new path in the crypto environment as of the third quarter of 2019.

As part of its expansion plan, the company will use Huobi Group’s Huobi Cloud platform to “facilitate the construction of digital asset exchanges based on the existing platform.”

Once the implementation process begins, the tool will allow the development of trading centers with matching in addition to the management of assets, wallets and compensation systems established by Huobi Global.

According to the announcement, through Huobi Cloud they can launch more than 120 exchanges in Russia, the United Kingdom, Hong Kong, Singapore, Indonesia, Canada and Brazil.

It is important to highlight that Thailand has worked hard in the regulatory framework for the internal market for crypto assets, which places the country at the forefront of the ecosystem and the continent. They have the supervision of the Securities and Exchange Commission (SEC) and the Ministry of Finance.


Source: Cointelegraph

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