Huobi Japan, the Japanese subsidiary of Singaporean crypto giant Huobi Group, is set to raise $4.6 million in January 2020. The exchange will raise the funding from Japanese financial services firm Tokai Tokyo Financial Holdings. The new funding comes just two months after the exchange raised another $4.6 million from FPG Corporation. Tokai Tokyo signed a business alliance agreement with Huobi Japan which will see the two firms strengthen cooperation in the digital assets business. The financial services giant, which mainly deals in brokerage services, believes that blockchain and cryptos are about to explode in the Japanese market and it doesn\u2019t want to miss out. In its press release, the company stated, \u201cHere in Japan, the relevant ministerial ordinances are expected in force next spring. Therefore, we believe that the business dealing with crypto assets and blockchain will accelerate further.\u201d Tokai Tokyo will promote new businesses in areas such as initial exchange offerings, crypto exchange, local currency issuance and the storage and management of cryptos. The firm will \u201cconsider expanding this business to partner regional banks in the future.\u201d Huobi Japan was launched in January 2019. This was after Huobi Group acquired local crypto exchange BitTrade in September 2018, rebranding it into its Japanese subsidiary.\u00a0 In October, the company raised \u00a5500 million ($4.6 million) through the issuance of new shares to FPG Corporation, a Japanese financial services group. The exchange pledged to channel the funds to expansion, staying true to their promise that they would \u2018aggressively scale up their platform.\u2019 While Huobi Group has found great success in Japan, its push into the United States hasn\u2019t been as smooth. Last month, the exchange announced that it was set to freeze all U.S. accounts in a few weeks\u2019 time. The freezing followed months of gradual disabling of U.S. accounts as regulatory scrutiny mounted. Users were urged to withdraw their funds before November 13 or risk losing them. Earlier this month, its U.S. subsidiary HBUS announced that it was halting operations. HBUS was around for just over 18 months before calling it quits. In more positive news however, Huobi has continued to expand into other territories including Thailand and Argentina.