Huobi Granted an Investment Business License from FSC of British Virgin Islands

Huobi has been granted an investment business license from the Financial Services Commission (FSC) of the British Virgin Islands. The approval allows Huobi to operate a virtual asset exchange under the subsidiary Brtuomi Worldwide Limited (BWL). According to the announcement, BWL plans to offer a range of crypto trading services, including spot trading of cryptocurrencies like $BTC and $ETH as well as derivatives trading. "We believe that this license will have major implications for institutional investors, as it will make us the first exchange to provide compliant crypto derivative products and trading services in the territory," Huobi Group chief financial officer Lily Zhang said.