Huobi Japan Launches Fully Licensed Cryptocurrency Exchange

Huobi Japan newly launched itself as a fully regulated exchange under Japan's Financial Services Agency (FSA).

In last October 2018, Japan’s Financial Services Agency (FSA) recognized the cryptocurrency industry in Japan by giving it a self-regulatory industry status. FSA permitted Japan Virtual Currency Exchange Association to police and sanction exchanges for any violations.

The 16 founding members of Japan Virtual Currency Exchange Association include Money Partners, BitFlyer Corporation, Quoine Corporation, Bit Bank Corporation, SBI Virtual Currencies Corporation, GMO Coin, Bit Trade Co Ltd, BTC Box Corporation, Bit point Japan, DMM Bitcoin Inc, Bito Argo Exchange Co Ltd Tokyo, Bitgate Corporation, BitOcean Co Ltd, Fisco Virtual Currency Exchange Co Ltd, Tech Bureau Co Ltd, Xtheta Corporation, Coin Check Co Ltd.

Huobi Japan will join as a 17th member to Japan Virtual Currency Exchange Association.

Executive Opinion

Huobi Group Founder and CEO, Leon Li, said, "This is an important milestone for us. Firstly, because the Japanese market is a very important one to us and, secondly because working with regulators is a longstanding priority for Huobi Group. We're proud to say that Huobi Japan now has one of the first 17 licenses issued under the FSA's ground-breaking regulatory regime."

Huobi Japan CEO Haiteng Chen, said, "We are extremely pleased to once again be offering our services to the Japanese trading public. We're looking to continue to grow our presence here while offering top-notch digital asset trading services in Japan."

What Huobi Japan offers?

The launch of Huobi Japan exchange comes on the heels of the recent merger of BitTrade with Huobi Group. Bittrade is one of the 16 FSA-approved crypto exchanges. Huobi Japan currently offers Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple (XRP), and Monacoin (MONA).

According to the announcement, the Huobi Japan exchange offers 24/7 customer service by email and a dedicated along with highly qualified team ensuring its operation and security around the clock. The Huobi Japan exchange features specialized distributed architecture, a Distributed Denial of Service (DDoS) attack countermeasures system, and A+ ranked SSL certification (the highest available).

For a limited time, according to the announcement, zero transaction fees are announced on both crypto and fiat currency.