Copy link
Increase text size
Decrease text size
Link copied

Huobi Japan gets approval to offer crypto derivatives trading services

The firm is now registered as a Type I Financial Instruments Business after it was approved by the Financial Services Agency (FSA), the country’s chief regulatory authority for financial services.

Tokyo, Japan / Image by: Wikimedia Commons

Tue, 19 Oct 2021, 11:31 am UTC

Huobi Japan can now finally start offering crypto derivatives to its clients. The firm is now registered as a Type I Financial Instruments Business after it was approved by the Financial Services Agency (FSA), the country’s chief regulatory authority for financial services.

“Huobi Japan, Inc. (Huobi Japan) has received approval from Japan's Financial Services Agency to register as a Type I Financial Instruments Business, as designated under the Financial Instruments and Exchange Act,” the crypto exchange said in a press release. “This will enable Huobi Japan to engage in the trading, underwriting, and management of cryptocurrency derivatives, as well as operate derivatives trading systems.”

Huobi is now one of the seven out of the 34 crypto exchanges in Japan that possess this license. Aside from allowing the platform to offer crypto derivative products, the firm can also offer trading and market-making services to its clientele. On the other hand, the remaining crypto firms that do not yet own this type of license can only offer limited spot trading services of cryptocurrencies.

“We're very excited to have reached this milestone,” Huobi Japan CEO Haiteng Chen said. “It will enable us to expand the business beyond spot trading and fuel the next phase of our growth in Japan. Going forward, we plan to develop a number of crypto derivatives products to meet the growing demands of the market.”

Huobi currently offers spot trading of 14 cryptos including Bitcoin (BTC), Ethereum (ETH), and Huobi Token. Japanese regulators approved Huobi Token’s listing on the crypto exchange in June 2020.

The FSA ruled in April 2020 that crypto platforms must be registered as Type I financial instruments businesses for them to be able to offer crypto derivatives, according to Coindesk. To qualify, crypto firms must have net assets and stated capital of at least JPY50 million ($438,061 each) and a capital-to-risk ratio above 120 percent.

TokenPost | [email protected]

<Copyright © TokenPost. All Rights Reserved. >

To leave a comment, please sign in.
More
  • Bitcoin (btc) $48,854.00 (-1.32%)
  • Ethereum (eth) $4,134.75 (+0.01%)
  • Binance Coin (bnb) $551.38 (-3.37%)
  • Tether (usdt) $0.998937 (-0.28%)
  • Solana (sol) $188.62 (-10.04%)
  • Bitcoin (btc) $48,854.00 (-1.32%)
Jul 15, 2021 (Thursday)
13:30
BTC Surges by 1.16% Within 5 Mins, Marking 31,824.01 USDT
12:06
BTC Surges by 1.12% Within 5 Mins, Marking 32,104.8 USDT
10:25
BTC Drops by 1.03% Within 5 Mins, Marking 32,171.88 USDT
02:13
TriumphX Scouts 'MINAMCOMPANY' CEO Woo-Seong Lee As Creative Director
02:00
ETH Tops List Of Crypto Net Inflow With $298.96 Mln In Past 10 Hours
Jul 14, 2021 (Wednesday)
13:14
BTC Surges by 1.03% Within 5 Mins, Marking 32,738.08 USDT
09:03
BTC Surges by 1.01% Within 5 Mins, Marking 31,899 USDT
02:30
Crypto Market Sentiment On Jul 14: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $224.97 Mln In Past 10 Hours
Jul 13, 2021 (Tuesday)
02:30
Crypto Market Sentiment On Jul 13: Market In "Extreme Fear"
02:00
ETH Tops List Of Crypto Net Outflow With $178.61 Mln In Past 10 Hours
Jul 12, 2021 (Monday)
02:30
Crypto Market Sentiment On Jul 12: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Inflow With $164.82 Mln In Past 10 Hours
Jul 11, 2021 (Sunday)
21:31
BTC Surges by 1.02% Within 5 Mins, Marking 34,475.6 USDT
10:00
ETH Tops List Of Crypto Net Inflow With $122.76 Mln In Past 18 Hours
06:17
SOBA Listed On LATOKEN
02:30
Crypto Market Sentiment On Jul 11: Market In "Extreme Fear"
02:00
BTC Tops List Of Crypto Net Outflow With $87.56 Mln In Past 10 Hours
Jul 9, 2021 (Friday)
21:40
BTC Surges by 1.08% Within 5 Mins, Marking 33,911.8 USDT
02:30
Crypto Market Sentiment On Jul 09: Market In "Extreme Fear"
Subscribe to the TokenPost newsletter!
Don't show me this again today.
Back to top
Copyright ⓒ TokenPost. All Rights Reserved.
PUBLISHsoft