Huobi Bitcoin Exchange Japan Raises $ 4.6 Million

Huobi Japan cryptocurrency exchange has attracted 500 million yen (~ $ 4.6 million) of investments, The Block reports citing the website of the Japanese division.

A stake in Huobi Japan was received by the local financial company FPG Corporation. The funds will be directed to “expanding the business in Japan”, developing digitalization of securities services, developing innovative payment solutions and issuing new financial assets.

“We are confident that we can create safe and reliable services for our customers,” the exchange said.

Huobi Japan was created last year after the Huobi Group acquired a controlling stake in the licensed BitTrade crypto exchange . According to the requirements of Japanese regulators, all trading floors in the country must be registered and obtain appropriate permission from the Financial Services Agency (FSA).

Recall that last month Huobi launched a cryptocurrency exchange in Argentina.

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