23 December 2020 13:05, UTC

Anna Martynova

Huobi Tech announced that it has received a Nevada Financial Services Division trust license for its subsidiary Huobi Trust Company. The license will allow the company to offer custody services while complying with the requirements of the US market regulators from the beginning of 2021. The return is part of Huobi Group’s efforts to launch regulated financial products and services in the states.

Huobi US (HBUS), a legal entity associated with Huobi Group, ceased operations in the states in December 2019. The reason for leaving the US market was the concern of the regulatory authorities. At the time, the company said the departure should be the next step toward making its business compliant with US laws and regulations.

Huobi Trust in Nevada will be led by chief trust officer Simon COLLIER. For over seven years, he served as contract project director and global head of wealth solutions at HSBC Hong Kong.

Image: Medium

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