Huobi’s 2019 Development Plans And The Newly Acquired DLT Gibraltar License
During a conference in London yesterday, Huobi Global announced its strategies to expand in the next year in terms of a completely regulated digital exchange platform. Information on the Distributed Ledger Technology (DLT) license issued by Gibraltar was also released during the conference.
Speaking during a conference in London yesterday, Head of Global Institutional Business, Lester Haoda Li said that the Gibraltar-issued DLT license will enable Huobi Global to operate an exchange that is fully regulated and shall be beneficial for both the Global Institutional and retail clients.
Huobi considers this as a huge and progressive step towards their global strategy. He went on to add that having properly designed guidelines and systems in place play a significant part in the future of digital currency.
How The New License Will Be Beneficial
Gibraltar is one of the first authorities to present a purpose-built and controlled Distributed Ledger Technology structure. Huobi Globals’s license is amongst the initial licenses presented by the British Overseas Territory through the recently established regulations for the management of digital assets.
The new DLT license provides Huobi with the power to safeguard and transfer any digital assets on client’s behalf globally.
The Distributed Ledger Technology license will also increase chances for institutional stakeholders who have been shying away or didn’t want to engage in unregulated transactions
Aside from enhancing a fully regulated crypto-to-crypto trading sphere, this license paves way for new prospects for simple and effective crypto-to-fiat and fiat-to-crypto functionality. It offers a much longed-for substitute to OTC services.
The license will also act as a facilitator for the firm’s plans for the future. Some of the plans include a determined move into the well-structured financial product space. The plans are expected to be rolled out within the first six months of 2019.
According to Lester Haoda Li, Huobi intends to continue growing and making adjustments to provide clients with a favorable and an all-inclusive ‘one stop shop' that wasn’t available in the old model.
In attendance at the conference were influential traders and investors, Lester Li and other executives at Huobi Global. The officials and attendees shared the Huobi Group's criteria for investment, the importance of having an Institutional account, and HUSD, which is Huobi’s comprehensive stablecoin solution
The forum also included a panel of leading executives in the industry who shared their thoughts on the prospects of their sectors. Some of the moderators at the conference included Co-founder 11FS, Simon Taylor, and Global Digital Finance; Julien Auchecorne, COO of XBTO, Bob Vosalik, Head of Europe, FBG Capital; Shane Kehoe, Co-Founder of SVK Crypto; and Steve Kelso, CEO, Galaxy Digital Europe.
The General Counsel for Huobi's Global Institutional Business, Josh Goodbody concluded by saying that they were privileged to be in the presence of some of the prominent visionaries in the industry. And as 2018 is coming to an end, this was an opportunity to share the insights and what to look forward to next year.