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HTX, formerly Huobi, resubmits Hong Kong crypto licence application days after withdrawal

  • The resubmission comes days before the SFC’s deadline for firms hoping to operate a legal crypto exchange in the city to apply for a licence
  • HTX plans to launch a new platform called Huobi Hong Kong and pursue a licence in the city, according to a tweet by adviser Justin Sun last year

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HTX, formerly Huobi Global, is one of the world’s largest cryptocurrency exchanges. Photo: Shutterstock
Xinmei Shen

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Excluding HBGL, two cryptocurrency exchange operators have withdrawn their applications so far, while one has had its application returned, according to the SFC.

Justin Sun, adviser for Huobi. Photo: Bloomberg
Justin Sun, adviser for Huobi. Photo: Bloomberg

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

It first announced its plans to pursue a licence in Hong Kong in February last year through a statement made by its adviser Justin Sun on Twitter, now X. The outspoken crypto entrepreneur said the company will launch a new exchange called Huobi Hong Kong that will be compliant with the city’s new regulations.
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