Huobi Gets Nevada License, Plans To Return To US
Last Updated: 23 December 2020
Top crypto exchange Huobi Group is planning to return to the US market after suddenly leaving in 2019. Based on its Tuesday filing with the Hong Kong Stock Exchange, the exchange said the Nevada Financial Institutions Division has also approved a trust license for the subsidiary Huobi Trust Company.
With the license, the company can offer compliance and custodial services in the U.S. market from 2021. It will coincide with the exchange’s plan to toll out regulated financial products and services in the US.
A trust company manages the assets of a group of investors. An example is the Grayscale trusts, which use the structure to provide crypto exposure within the traditional market.