One of the leading crypto exchange – Huobi – confirmed the rumours about DLT license in Gibraltar during the recent conference held in London. At the event, the company commented on its the received license as well as shared more details about the planned regulated trading platform for digital coins.
"Our Gibraltar DLT license will allow us to open a fully-regulated exchange for our Global Institutional clients and retail clients alike, so this is a big win for Huobi and a very positive step forward for our global strategy," noted company representative from Huobi's London office in the press release.
The company added that they stick to the position that well-developed regulation would be the good drivers for further development of the crypto sector. With this license, Huobi will be able to expand their client base, as they may attract those institutional investors who used to refrain from dealing with the unregulated atmosphere.
Among other fruits, DLT license "opens up exciting possibilities for simplified and efficient fiat-to-crypto and crypto-to-fiat functionality that provides a welcome alternative to OTC services," according to the press release.
Notably, Huobi is among the first companies be awarded DLT license in Gibraltar, with the local authority bringing the first legal framework in this area. As a result, the company will be able to make fiat-to-crypto exchange simpler as well as a more effective process.
"Our intention is to give our clients advantages and a comprehensive 'one stop shop' that was just not possible under the old paradigm," added Huobi spokesperson.