Crypto exchange Huobi has recently been signaling bullishness about opportunities in Hong Kong, with plans to move its regional headquarters to the city, increase headcount and more.
Huobi will relocate its Asia headquarters from Singapore to Hong Kong, according to a «Nikkei» report citing adviser Justin Sun. As part of the plans, Huobi will also expand its staff in the city from 50 to 200 by the end of 2023.
Separately, Sun, who is also the founder of Tron, said that Huobi was applying for a crypto trading license in Hong Kong, according to a social media post.
Hong Kong Opportunity
An increasing number of players are eyeing the opportunity in Hong Kong as local authorities seek to realize their ambitions to turn the city into a crypto hub. The Securities and Futures Commission recently released proposed plans to extend access to retail investors, specifically in major tokens like bitcoin and ether.
In addition, Sun himself also said he would relocate to Hong Kong to capitalize on the opportunities as early as next month.
«These three years, Hong Kong's regulatory framework has seen a lot of change for the better, so I am very confident in the future of crypto compliance in Asia, Hong Kong and hopefully China,» Sun said.
