Huobi Global Partners With BCB Group; Traders Gain Access to European Fiat On-Ramp
Crypto exchange giant Huobi Global has announced a new partnership with BCB Group in efforts to link its trading desks to the European banking system, including the United Kingdom.
Seychelles registered crypto exchange will now offer instant euro and GBP settlements to its clientele.
The deal, which was announced on Tuesday, reveals that Huobi’s over-the-counter (OTC) customers can now complete transactions instantly using either the pound (GBP) or euros through BCB’s BLINC network.
In the recent past, crypto exchanges have faced different hurdles in their efforts to establish banking relationships that can provide an interface to the fiat money world. Before the current deal, Huobi had no established European fiat gateway, BCB CEO Oliver von Landsberg-Sadie stated.
Speaking to media outlets, Landsberg-Sadie stated that the partnership would provide a robust infrastructure that will enable seamless trading for Huobi’s customers.
“We’re here to provide that robust infrastructure so that these guys can just get on with trading and know that trades are happening in a way that’s properly monitored, that’s regulatory-friendly.”
Huobi’s head of global business, Ciara Sun, stated that the process has been rigorous and although it took some time it is for the benefit of the firm’s European customers. Sun said,
“Partnering with BCB allows us to offer a European fiat on- and off-ramping service that we know is in line with the laws of that area, but it also allows our customers in Europe to experience a smooth and hassle-free user experience.”
Huobi becomes the latest major crypto exchange using BCB’s BLINC platform, following Bitstamp, which had joined earlier. BCB stated that other partnerships with various crypto exchanges would be announced soon.
Huobi Korea Secures Certification From Korea Internet and Security Agency
Huobi Korea, an offshoot of Huobi Global operating in Seoul, has been certified as an information security management system, or ISMS. The certification complies with Korea’s Special Payment Act.
The certification means that Huobi Korea will be granted a broad management system that guarantees security as well as compliance with Korean laws. The new law requires crypto-based enterprises to report transactions as per the updated KYC and AML policies issued recently.
Huobi Korea CEO, Park Si-deok, said that the issuance of the certificate is a testament that the exchange is well prepared to offer quality services to both institutional and individual clients.