Huobi Japan is now a wholly-regulated crypto exchange, supervised by the Financial Services Agency in Japan. The cryptocurrency exchange was created through a merger between Huobi Group and BitTrade.
The Founder and CEO of Huobi Group commented on the milestone:
This is an important milestone for us,” said Leon Li, Huobi Group Founder and CEO. “Firstly, because the Japanese market is a very important one to us and, secondly, because working with regulators is a longstanding priority for Huobi Group. We’re proud to say that Huobi Japan now has one of the first 17 licenses issued under the FSA’s ground-breaking regulatory regime.
In order to strengthen its position on the Japanese market, Huobi Group bought a majority stake in BitTrade. The latter was licensed by the FSA. Huobi Japan offers to its clients Ethereum, Bitcoin Cash, Ripple, Bitcoin and Monacoin. The exchange is prominent for its security, service and stability. It has a specialized distributed architecture, an A+ ranked SSL certification and a DDoS system.
In order to celebrate this important milestone, Huobi Japan offers to its customers zero transaction fees on fiat money and cryptocurrencies for some limited time.
Japan is reinforcing its position as top blockchain / cryptocurrency destination. The country is one of the few that has very liberal regulations towards alt coins and crypto exchanges.