Huobi Thailand which is due to kick off later this year, has been given a license by the local regulators to conduct crypto-to-crypto trading, as well as crypto-to-fiat one, says a recent Huobi blog post.
Huobi Group keeps expanding
Huobi Cloud that powers Huobi Group presently is looking for new partners abroad. The company has so far set up a branch in Thailand, providing its local customers with safe and reliable opportunities to trade crypto.
What is Huobi Thailand 🇹🇭 all about?— HuobiGlobal (@HuobiGlobal) July 26, 2019
Get the details on our soon-to-launch #regulated exchange in Thailand here: https://t.co/uX5e1Utz3e#Thailand #Blockchain #Crypto
Apart from powering Houbi Group, Houbi Cloud also provides ready-made solutions for anyone wishing to set up their own crypto trading platform.
At present, Houbi Cloud has helped to launch over 120 virtual exchanges in numerous locations, including Russia, Africa, the UK, Indonesia and many others.
Thailand’s crypto regulations
Last year, Thailand’s SEC implemented crypto regulation rules under which this area is now under the strict control of the government. Crypto exchanges must obtain a license to work in the country.
The government is also showing deep interest in DLT. In summer last year, the country’s central bank spread the word about developing its own CBDC (Central Bank Digital Currency) using R3’s Corda network as basis.