Crypto Exchange Huobi Relaunches Trading Services In Japan

Announcements, News | January 11, 2019 By:

Cryptocurrency exchange Huobi has re-launched its trading services in Japan.

Huobi suspended its trading services in Japan in July 2018 as it did not have a license to oeprate in the country. In September, the company acquired BitTrade, which is one of 16 crypto exchanges licensed by Japan’s Financial Services Agency (FSA). BitTrade announced in December the complete termination of its current trading system in order to reopen as part of the Huobi family.

“We are sorry for the inconvenience caused by the termination of the Bittrade service and updating to the Huobi new system,” BitTrade said at the time. “In the new system, we will continue to offer more liquidity and convenience services, so we appreciate your patronage.”

In its latest announcement, Huobi said that the newly re-launched platform offers trading services in cryptocurrencies such as bitcoin (BTC), ethereum (ETH), Ripple (XRP), Bitcoin Cash (BCH), Monacoin (MONA) and Litecoin (LTC). Monacoin is currently only paired with Japanese Yen, while the rest of the listed coins can be traded against Japanese Yen and bitcoin. Ethereum and Bitcoin Cash trading in yen started on Thursday, while LTC/JPY and MONA/JPY will begin trading today.

BitTrade has instructed its user base to open new accounts on the Huobi platform and transfer all their assets along with completing all know your customer (KYC) procedures.