Huobi Japan Raises $4.6M From FPG to Expand Crypto Trading Business
Huobi Japan Raises $4.6M From FPG to Expand Crypto Trading Business
October 26, 2019
Huobi Japan Raises $4.6M From FPG to Expand Crypto Trading Business
Huobi Japan Raises $4.6M From FPG to Expand Crypto Trading Business
October 26, 2019

Huobi Japan raised 5 million yen ($4.6 million) from Finacial Products Group (FPG), a financial instruments business operator.

Cooperation on Digitized Securities

Huobi Japan a subsidiary of Singapore based crypto exchange- Huobi, serving traders over 130 countries.

The platform launched this January as a fully compliant entity after a merger with BitTrade — one of only 16 crypto exchanges at the time to have secured a license under the aegis of Japan’s national financial regulator, the Financial Services Agency (FSA). 

Financial Products Group (FPG) and Huobi Japan will provide support for new financial assets and payment methods. FPG Group anticipates a possible collaboration with Huobi Japan to digitize further Japan’s securities market by providing financial instruments business operators with Huobi’s blockchain technology.

Japan Embraces Blockchain

Japan now makes it legal for politicians to use cryptocurrency donations to fund election campaigns in the country.

Japan’s third-largest bank, Sumitomo Mitsui Banking Corporation (SMBC) said that a cross-border proof-of-concept test was successfully completed involving Mitsui & Co, a Japanese general trading company; Indorama Ventures, a Thai company in the intermediate petrochemicals business; and Bangkok Bank, Thailand’s third-largest bank.

ALSO READ :  Blockchain Is The Future But Keep It Rational And Avoid ‘Aircoins’, China

On Oct. 6, 2019, CryptoNewsPoint.com reported that Japan’s Financial Services Agency (FSA) has issued draft guidelines for funds investing in crypto. It mentions crypto assets in the introduction, but only alludes to them in the text of the proposed amendment itself, is the latest move by the authorities in the country to prudently manage the development of the market without shutting it down.


Source: Cointelegraph.com | Images: insidecryptocoins.com


Disclaimer

Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.
Share This

Share This

Share this post with your friends!