Huobi has been introduced since 2013. It originated in China and has expanded its empire to other countries such as Hong Kong, South Korea and Singapore. Despite regulatory uncertainty, the firm also entered the U.S. through a rebranding along with its exclusive U.S. strategic partner, HBUS.
Huobi is one of the largest cryptocurrency exchange platforms and has launched its services in Malaysia through a local partnership model. Known as Huobi Labuan, the company received a digital asset trading brokerage services license in September 2020 with a trial period of nine months.
Huobi Malaysia was given a period of nine months to meet the standards of Securities Commission Malaysia (SC) regulations where exchanges are allowed to provide spot and derivatives trading services.
In Malaysia, every cryptocurrency exchange platform needs to be registered with the SC as a DIgital Asset Exchange. After a nine -month trial period, Huobi Labuan has successfully obtained approval from local securities observers.
Huobi customers in Malaysia can make Peer-to-peer (P2P) sales and purchase transactions for 8 types of coins such as Bitcoin (BTC), Ethereum (ETH), Tether (USDT), EOS, HUSD, Huobi Token (HT), Litecoin (LTC) and Ripple (XRP). In fact, there are a total of 916 trading pairs with almost 349 types of coins available on this platform. Huobi Labuan acts as Huobi Cloud’s local operating partner, so they use robust trading technology for local digital transaction brokerage services.
Benefits of Huobi Malaysia
- The method of buying and selling cryptocurrencies is very easy using a credit card (MasterCard or VisaCard)
- Can make payments using different currencies such as MYR, USD, SGD, CNY, HKD, VND and others
- Can buy various cryptocurrencies including BTC, ETH, HT, XRP, UNI, LTC and others
- Uses a P2P method that allows users to purchase cryptocurrencies from other users on Huobi Global without extra charges