Cryptocurrency exchange operator Huobi has been granted a license from Hong Kong’s Securities and Futures Commission.
- British Virgin Islands-incorporated Huobi Technology Holdings announced Thursday that its wholly-owned subsidiary, Huobi Asset Management, had received approval to manage portfolios investing in virtual assets.
- Following the news, Huobi is now launching bitcoin, ethereum and multi-strategy funds, according to Chinese blogger Colin Wu.
- The new funds, along with Huobi's sizable ecosystem, could bring more traditional Asian investors into the cryptocurrency space, he said.
- Wu raised as a potential issue that Huobi's "founder cannot leave China and is under investigation."
- Indeed, in January, multiple sources told CoinDesk a key executive was taken into custody by Chinese police due to an investigation related to the exchange’s over-the-counter trading service.