Gibraltar signs MOU with Huobi Group on encryption techniques

Gibraltar just signed a MOU with Huobi Group, one of the largest digital assets trading platforms in the world, to have more cooperation on encryption techniques, including business, education and academic research exchanges.

In November of 2018, Huobi Group received a Distributed Ledger Technology, or DLT, license in Gibraltar, becoming of the leading blockchain company there, according to Albert Isola, minister for commerce of Her Majesty's Government of Gibraltar.

"The DLT supervisory framework took effect since Jan 1 of 2018, which is aimed to promote the development of blockchain and encryption techniques and attracted more quality companies in this sector," Isola said.

Huobi, which was founded by Leon Li in 2013, has gained popularity around the world. The official website offers services in 10 languages and Huobi Global serves millions of users every day, according to Li.

So far, Huobi has expanded into Japan, South Korea, Russia and other countries.

Of these, HBUS, Huobi's exclusive strategic partner in the US, has obtained licenses. In Japan, Huobi supports Japan's currency, the yen, to crypto trading with licenses.

Huobi also has endeavored to build an ecosystem that covers different aspects of the blockchain and cryptocurrency industry.

Wang Jiaqi contributed to this story.