💰 Huobi acquires licensed crypto exchange in Japan
Singapore based cryptoasset exchange Huobi Group is expanding its platform to Japan with the acquisition of licensed exchange BitTrade. Japanese crypto exchanges are subject to specific licensing requirements and BitTrade is one of 16 licensed exchanges in the country in addition to being a member of the Japanese Virtual Currency Association. The deal comes after a failed 2017 partnership between Huobi and Japanese financial firm SBI Holdings which would have allowed the former to take a stake in SBI's VCTRADE exchange.
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