The third in the world by trading volume the exchange Huobi has acquired a licensed Japanese cryptocurrency exchange BitTrade. The company strengthens its position in the Asian market.
Buy BitTrade is a very valuable acquisition for Huobi, as it will allow the exchange to work for the Japanese cryptocurrency market. With January 2018 and there are strict rules for companies operating in kriptonyte: each exchange must obtain permission from the financial services Agency. At the moment the license is issued to 16 companies, including BitTrade.
News commented Board member BitTrade Eric Cheng: "We look forward to working with Huobi. Together we will be able to take a leading position in the Japanese market. I believe that a long-term partnership with such a famous brand as Huobi will benefit BitTrade and will contribute to the development of the business."
According to CEO Huobi Chris Lee, both companies will work in synergy, BitTrade will take advantage of staff expertise Huobi and its technologies, but Huobi will have access to the marketplace through licenses BitTrade.
The exchange Huobi is implementing a fairly aggressive strategy of business expansion. Last month the firm announced its plans to open offices in the Philippines, Russia, Taiwan, Indonesia and Canada. Apparently, the company wants to surpass the leader by trading volumes in the stock exchange Binance.