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Hong Kong-listed digital asset platform Huobi Know-how Holdings has launched a cryptocurrency over-the-counter (OTC) service, the agency introduced to Cointelegraph on Wednesday.
Listed on the principle board of the Hong Kong Inventory Change (HKEX) since 2016, Huobi Know-how was initially known as Pantronics Holdings, an digital product maker based again in 1990.
Huobi Know-how has been actively transferring into the cryptocurrency business in recent times however operates independently of Huobi Group, the entity that owns the Huobi International cryptocurrency alternate.
The 2 firms share some shareholders however they’re two separate authorized entities, a spokesperson for Huobi instructed Cointelegraph.
In line with the newest announcement, Huobi Know-how now permits traders to commerce crypto through OTC utilizing crypto block buying and selling companies and fiat currencies just like the U.S. greenback. The agency plans to increase it to the euro, the British pound and the Hong Kong greenback within the close to future.
Huobi Know-how has launched a number of crypto companies in recent times, now supporting digital asset administration, custody, belief and lending. The corporate holds a large variety of licenses, together with the security and asset management licenses from the Securities and Futures Fee of Hong Kong, in addition to a belief of firm service supplier license in Hong Kong. Huobi Tech has additionally obtained a retail belief firm license in the US state of Nevada through a wholly-owned subsidiary.
Amid Huobi Know-how’s entry into the crypto business, the corporate’s shares noticed a pointy enhance final 12 months, briefly topping above $3 in April 2021, in line with information from TradingView. The inventory subsequently plummeted afterwards, dropping under $1 in late 2021.
Associated: Here’s how the Thai Stock Exchange plans to connect crypto with its digital asset platform
Numerous crypto-linked HKEX-listed firms like OKG Technology and BC Technology Group have been additionally falling in late 2021 amid China’s crackdown on the crypto industry enforced in September. On the time of writing, the shares are buying and selling at $0.89.
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