Huobi Technology Holdings Ltd. (“Huobi Tech”, 1611.HK), a leading virtual asset services platform, participated in FOW Asia, an annual derivatives conference, from September 8-9, 2021. Ms. Lily Zhang, CFO of Huobi Technology, spoke during a virtual panel discussion, “Digital assets, blockchain and marketplace: what’s next in play?” During the panel, she discussed recent industry trends such as cryptocurrency regulations, decentralized finance and NFTs, as well as Huobi Tech’s efforts to comply with regulations around the world.
(Image from FOW Asia website)
FOW Asia, was held virtually this year, facilitating improved attendance from a wider variety of viewers. FOW Asia hosted several panels on futures markets, commodities markets, ETFs, ESG trends, and more. Speakers from BlackRock, HSBC, HKEX, Societe Generale, and the China Securities Regulatory Commission (CSRC) also attended.
During the conference’s panel on digital assets, CFO Lily Zhang highlighted the differing attitudes towards regulations amongst regions. She noted that the United States,has taken the lead role in creating a more inclusive regulatory market for cryptocurrency trading and fundraising. Meanwhile, Asian countries still got huge potential, given the fierce growth that cryptocurrency markets have seen there.
“The United States is a more inclusive market for regulatory rules and innovation, and the regulatory environment is relatively open, even though there are differing voices. Many innovative projects are born in the US, and then expand to other regions to develop further applications,” CFO Lily Zhang said.
She noted that the more advanced regulatory situation in the US had been partly driven by growing institutional interest there. Many large companies in Europe and US, including listed companies and technology companies, are actively increasing their exposure to crypto assets, but there have been relatively few companies doing so in Asia. While some family offices in the Asia Pacific region have dabbled in crypto investments, the overall trading volumes pale in comparison to those of the Europe and the United States.
Despite this, Huobi Tech is committed to becoming the leading one-stop virtual asset services platform in Asia, and is actively applying for relevant licenses in different respective countries. Up until now, Huobi Tech’s various subsidiaries have successfully obtained Type 4 and Type 9 licenses from the Hong Kong SFC, a Hong Kong Trust or Company Service Provider License, registered as Hong Kong trust company, and also obtained a Nevada USA Trust Company License.