HTX, formerly Huobi, resubmits Hong Kong crypto licence application – South China Morning Post

The Hong Kong affiliate of cryptocurrency exchange HTX, formerly Huobi Global, has resubmitted its application for a licence to operate in the Asian financial hub, as the company seeks to win customers in the city after exiting the mainland market.

HBGL Hong Kong Limited has submitted another application for a licence for the virtual asset trading platform Huobi HK on Monday, after withdrawing its earlier application on February 23, according to a list of cryptocurrency exchange licence applicants published on the Securities and Futures Commission (SFC) website.

HBGL did not publicly disclose its reason for the withdrawal and resubmission.

Excluding HBGL, two cryptocurrency exchange operators have withdrawn their applications so far, while one has had its application returned, according to the SFC.

Beijing-founded HTX is the fifth-largest cryptocurrency exchange in the world by 24-hour trading volume, according to data from market tracker CoinGecko.

An HTX representative said on Tuesday that Huobi HK operates independently from HTX.

HBGLs resubmission came just days before a deadline for cryptocurrency exchanges hoping to operate legally in Hong Kong to put in a licence application.

While only a few international cryptocurrency companies have submitted applications, the Hong Kong market has been seen as a particularly attractive option for firms with strong ties to mainland China, most of which moved their headquarters overseas during Beijings crackdown on the industry.

Those companies include some of the industrys biggest names.

Crypto.com, founded in Hong Kong and based in Singapore, also applied for a licence this month. A total of 20 companies have submitted their applications as of Tuesday, according to the SFC.

Additional reporting by Matt Haldane

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HTX, formerly Huobi, resubmits Hong Kong crypto licence application - South China Morning Post