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Huobi Tech Subsidiary Receives A Grant For US Money Transfer License

Published 08/07/2022, 18:08
Updated 08/07/2022, 18:42
© Reuters.  Huobi Tech Subsidiary Receives A Grant For US Money Transfer License

HBIT, a subsidiary of Huobi Tech, has been granted a license for conducting money transfer and foreign exchange operations over the U.S.

The news comes just days after Huobi Technologies subsidiary HBIT acquired a Money Services Business Registration License (MSB).

The U.S. Financial Crimes Enforcement Bureau (FinCEN) provided the grant.

Huobi Tech aims to facilitate and provide digital asset-based services to a widespread user base across the U.S. This announcement brings Huobi Tech closer to that goal.

Huobi Tech is the Hong-Kong-based affiliate of Huobi Group, carrying out its exchange operations under the same.

According to a company statement on July 5: “This is progress in the compliance process of Huobi Technology, creating a good compliance foundation for the company to carry out digital currency-related business in the United States in the future.”

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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