Huobi Japan Inc has recently been greenlit by Japan’s Financial Services Agency to deal with trading, underwriting, and management of cryptocurrency derivatives, along with operation of derivatives trading systems, as a Type 1 Financial Instruments Business.
In accordance to the Financial Instruments and Exchange Act, type 1 businesses are involved with the sale and trading of securities and derivatives.
We’re very excited to have reached this milestone. It will enable us to expand 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.
Haiteng Chen, CEO of Huobi Japan
This is a significant milestone for Huobi’s business in Japan, since this means that the company can finally offer trading and market-making services for clients, besides developing derivatives products.
There are currently only seven out of 34 cryptocurrency exchanges in Japan that hold this license, which requires the holder to meet certain asset levels. The exchanges without such license may only offer limited spot trading services of cryptocurrencies.
Huobi Japan started offering spot trading services for 14 cryptocurrencies like Bitcoin, Ethereum and Huobi Token from September 2021 onwards.
