Huobi Technology Holdings, a Hong Kong-listed virtual asset platform, has launched a cryptocurrency over-the-counter (OTC) service. Huobi Technology, which has been listed on the main board of the Hong Kong Stock Exchange (HKEX) since 2016, was formerly known as Pantronics Holdings, an electrical product manufacturer formed in 1990.
Huobi Technology has been involved in the cryptocurrency business in recent years, but operates independently of Huobi Group, which runs the Huobi Global cryptocurrency exchange.
According to the company’s most recent release, Huobi Technology now enables investors to trade crypto over the counter (OTC) using crypto block trading services and fiat currencies such as the US dollar. In the near future, the company plans to add the euro, the British pound, and the Hong Kong dollar.
In recent years, Huobi Technology has offered a number of crypto services, including virtual asset management, custody, trust, and lending. The company holds a variety of licences, including the Securities and Futures Commission of Hong Kong’s security and asset management licences, as well as a trust company service provider licence in Hong Kong. Huobi Tech has also secured a retail trust company licence in the state of Nevada, USA, via a wholly-owned subsidiary.
A number of crypto-related HKEX-listed businesses, including OKG Technology and BC Technology Group, were also expected to fall in late 2021 as a result of China’s crackdown on the crypto industry, which began in September.