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Huobi has raised another $4.6 million to fund even more expansion

Huobi has raised another $4.6 million to fund even more expansion
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily

The Japanese branch of the huge cryptocurrency exchange Huobi has just raised around USD 4.6 million in equity funding by issuing new shares to Japanese financial services company FPG Corporation.

The exchange has been rapidly expanding for a while now. They already operate in Singapore, Canada, Brazil, the United States and also have some units in the Middle East, some North African regions as well as Southeast Asia and many others. Lastly in October 2019, Huobi made a move into Turkey.

The company has been particularly looking into japan as the Crypto industry is big there. First by acquiring the regulated exchange BitTrade and now this move shows even more determination.

The company say they plan to “contribute to the digitalization of the Japanese securities market by integrating the company's professional financial business know-how with our security-focused blockchain technology to provide new financial assets and payment methods.”.

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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