Huobi is preparing to resume its services in the United States. The company has received a new license that has been confirmed by local regulators.
At the end of 2019, the Huobi Group ceased all activities in the United States, despite appearing to be interested in opening a trust company in that country. Huobi Global has announced that it will freeze all US-based client accounts by mid-November 2019. The firm claimed at the time that this was due to problems with higher-level regulators.
Now Huobi seems to be planning a big comeback. According to announcement published on December 22, 2020, the company received a license from a financial institution division of the Nevada Department of Business and Industry. The license will allow the company to offer fiduciary services. We can read in the announcement:
” The Board of Directors (” Board “) of the Company is pleased to announce that Huobi Trust Company (” Huobi Trust “), a company incorporated in Nevada, United States and an indirect wholly owned subsidiary of the company, has obtained a Trust Company license. License) from the Division of Financial Institutions of the Nevada Department of Business and Industry in the United States as defined in Chapter 669 of the Nevada Revised Statute and its rules and regulations.
Huobi’s executive director, Lan Jianzhong, emphasized that the company had not yet started providing any services. He also advised shareholders and potential investors to “exercise caution when trading the company’s shares”.
The platform seems to have put a lot of effort into developing new markets around the world over the past few years. Last month, Huobi Global announced a new project called Huobi Labuan. In this way, the company intends to expand its activities to the Malaysian market.
Huobi and Polkadot
Recently, we reported that the stock exchange announced the Polkadot sponsorship program and the Tether fund worth $ 5 million. This fund is intended to support “developers, event organizers, content creators and ambassadors” throughout the Polkadot ecosystem.
The sponsorship program allows the recommendation of Polkadot projects for placement in the “Polkadot Environmental Zone”, a special section of the Huobi exchange. Sponsors will also reportedly receive invitations to the annual Huobi conference and other events.