Huobi Tech Leading the New Direction of Compliant Virtual Asset Custody

Huobi Technology Holdings Limited (“Huobi Tech”, Stock code: 1611.HK) is actively developing its trust and custodian business services provided by Huobi Trust Hong Kong and Huobi Trust US respectively. Huobi Trust Hong Kong is a licensed trust company registered in Hong Kong, which provides clients with compliant virtual asset custody services. As of the end of August, the asset under custody by Huobi Trust Hong Kong has exceeded US$1 billion.

Since the beginning of the year, virtual assets represented by Bitcoin have set off a wave of enthusiasm to investors. As the virtual asset regulations set out by different economies are getting more stringent, the legal and compliance issue of virtual assets has become the key concern for investors entering the crypto space. On the other hand, the numerous hacking incidents of virtual assets have raised investors’ concerns over the security of virtual assets.

As one of the focused business lines of Huobi Tech, Huobi Trust Hong Kong was successfully registered as a trust company in Hong Kong in April, and is fully licensed under the Hong Kong Trust and Company Service Provider (TCSP) license, as such its daily operations shall strictly abide by the relevant Hong Kong regulations as well as the AML/CTF requirements. Huobi Trust Hong Kong provides compliant virtual asset custody services to clients in need of compliant, secure, and risk isolated custody of their assets. Clients span from digital banks, market makers, licensed lenders, virtual asset exchanges to hedge funds etc. As of the end of August, the asset under custody by Huobi Trust Hong Kong has exceeded US$1 billion.

A spokesman from Huobi Trust Hong Kong stated that “the seamless product design, comprehensive functional modules and strong support from the listed company enable Huobi Trust Hong Kong to provide clients with a full range of high-quality virtual asset services for different business needs and scenarios. We aim to become the world’s leading virtual asset trust and custodian service provider.”

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