Digital currency exchange Huobi has secured the backing of regulators in South Korea, following the decision to award Huobi Korea an ISMS certification.
Hong Kong-based Huobi digital currency exchange has been granted a license to offer digital currency services in Nevada via a subsidiary.
Bithumb shareholders are reportedly open to the idea, which would see Huobi carrying on the business of Bithumb in South Korea after the implementation of new digital currency laws in the country.
Huobi has reassured customers that their assets stored in the platform's wallets were safe, following speculation that Robin Zhu was "under investigation” or had been taken into police custody.
With the partnership, Huobi users in Australia, the E.U. and the U.K. will now be able to buy digital currencies on Huobi’s over-the-counter platform via payment methods available in their respective regions.
Huobi users will be allowed to purchase up to $20,000 worth of digital currencies in AUD, EUR or GBP. They can instantly fund their Huobi accounts via bank transfers, credit and debit cards and other preferred payment methods, all at zero fees.
For U.K. users, the service will be accessible via Faster Payments, an initiative by the country’s banks to reduce payment time between different banks to just a few seconds from the traditional three business days. For the larger E.U. region, the service will be available via the Single Euro Payments Area (SEPA) initiative that seeks to make cross-border transfers faster and cheaper.
This is the latest move by Banxa in its growth as it continues to partner with leading digital currency exchanges to take advantage of convenient fiat-to-digital currency payment rails. In July 2020, the Australian company revealed that it was expanding into North American markets. Banxa partnered with U.S. firm Zero Hash for the move, with the latter providing the regulatory and technical expertise needed to navigate the U.S. market.
Banxa’s success is partly due to its willingness to work with regulators, its founder and non-executive chairman Domenic Carosa revealed during CoinGeek Live. In a panel discussing the future of compliance for digital currency service providers, Carosa called on regulators to get their act together and adopt a common approach globally as this would foster better relations with the industry.
Carosa also announced during the event that his company had integrated Bitcoin SV on all its platforms. BSV is now available on the Banxa platform, which makes the original Bitcoin available to many of the world’s largest exchanges, as well as on Banxa’s other sites such as Bitcoin.co.uk.
Watch Domenic Carosa at the CoinGeek Live panel, Digital Currency & Global Compliance: Tools & Tips for Exchanges, Wallets & Other Service Providers.
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Huobi users in Australia, EU and UK will be allowed to purchase up to $20,000 worth of digital currencies in AUD, EUR or GBP.
Huobi digital currency exchange is rebranding its derivatives market to reflect the growth it has experienced since launch.
The group allegedly used Huobi’s platform to transfer the proceeds of fraud to an overseas bank account via digital currency transactions.
BitBay went offline for 18 hours, blaming a third-party service provider for the outage. It raised suspicion among users that it was covering up an exit scam.
OKEx and have offered to compensate their clients who were affected by a system failure a fortnight ago after angry Huobi users flocked to China office.
Huobi has launched a mobile app that targets the Southeast Asian market, allowing users to purchase digital currencies from their phones for zero fees
Huobi Japan is set to raise $4.6M in January from a Japanese financial services firm. The two will partner going forward on crypto storage, IEOs and more.