- Japan’s financial regulator, the FSA, recently approved Huobi Global’s native coin, Huobi Token (HT).
- Huobi Token is now 26th approved cryptocurrency, and the first one launched by international exchange.
- Now, Huobi’s branch in Japan is getting ready to list the token, reduce buying fees for it, and allow staking.
Japan has been the crypto-friendliest nation even before the entire world learned of Bitcoin in 2017. However, recently, its regulatory measures became rather strict, and getting approval for crypto businesses or even tokens is now much harder.
This is why the recent regulatory approval of Huobi Global’s cryptocurrency, Huobi Token, came as major news in and out of the country. Huobi Token (HT) is actually the first cryptocurrency created by an international crypto exchange to gain regulatory approval in Japan.
As such, it will soon be listed on Huobi’s branch in Japan.
Huobi Token to arrive at Huobi’s Japan-based subsidiary
From what is known, the coin will be paired against five other cryptos — Bitcoin, Ethereum, XRP, Bitcoin Cash, and Litecoin — as well as Japan’s native currency, yen. In other words, it will be obtainable through crypto or fiat means.
Also, Huobi Japan revealed plans to allow staking for its native coin, as well as to reduce the fees for purchasing it, in order to encourage users to get it.
The coin’s approval comes almost exactly two years after Huobi Japan originally launched in mid-2018. However, the exchange needed