China’s Leading Crypto Exchange, Huobi, Custodies More than $1 Billion in Assets
Huobi Technology Holdings Limited holds more than $1 billion worth of crypto assets in custody.
The largest cryptocurrency exchange in China noted on Thursday that at the end of August, the assets under Huobi Trust Hong Kong’s custody exceeded $1 billion.
Huobi Trust Hong Kong is a licensed trust company registered in Hong Kong which provides virtual asset custody services. In April, it successfully registered as a trust company in Hong Kong and is now fully licensed under the Hong Kong Trust and Company Service Provider (TCSP) license.
The company said it had been actively developing its trust and custodian business provided by this Hong Kong entity along with Huobi Trust US.
“Since the beginning of the year, virtual assets represented by Bitcoin have set off a wave of enthusiasm to investors.”
Among its clients include hedge funds, market makers, digital banks, virtual asset exchanges, and licensed lenders.