Huobi Labuan, a self-described “localized digital asset exchange for the Malaysian market,” has launched a platform “to provide local users with a safe and regulated way to trade cryptocurrencies,” according to a press release from the group.
“The launch of its trading services comes shortly after Huobi Labuan received a digital asset trading brokerage service license from Malaysian authorities, which was granted in September 2020,” the release notes.
“Huobi Labuan’s brokerage license allows the exchange to provide spot and derivatives trading services in Malaysia starting with a nine-month trial operation. Huobi Labuan currently supports more than a dozen different assets like BTC, BCH, ETH, ETC, EOS, and HT but will be able to list more assets after the end of the trial operation period.”
The platform is partnered with Huobi Cloud, an “all-in-one solutions provider that allows vetted partners to launch digital asset exchanges leveraging Huobi’s existing trading technology and digital asset infrastructure,” the release also states.
As you may know, Huobi’s exchange is one of the largest out there, and has been in existence for seven years. “After entering Labuan Malaysia, Huobi will actively cooperate with local authorities to further expand and improve the application scenarios of blockchain and digital assets,” the release concludes.
Remember, all trading carries risk. Past performance is no guarantee of future results.