Hong Kong-listed crypto platform Huobi Group has secured regulatory approval to offer its services in Dubai.
Its UAE entity, Huobi Investment FZE, will be able to offer virtual asset exchange products and services with the licence from Dubai Virtual Assets Regulatory Authority (VARA), it said in a statement.
Originally founded in China, the company aims to base its operations in Dubai, where cryptocurrency and digital assets have been gaining traction in recent months.
“The Dubai Government is committed to turning the emirate into a global hub for the future digital economy, and being at the forefront of financial innovation,” Huobi chief financial officer Lily Zhang said.
She said they are working with VARA and other local authorities to “further invest in Dubai and foster growth of the virtual asset industry there.”
The platform plans to expand its workforce in the region over time.
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