High-profile crypto trading platform Huobi keeps working on the expansion of its global footprint, via obtaining new licenses in New Zealand and the United Arab Emirates.

Specifically, Huobi Group reportedly revealed on June 17 its success in securing the Innovation License under the Dubai International Financial Centre (DIFC), which will be the firm’s first-ever license in the area.

The DIFC license reportedly does not function as a trading license, but instead grants authorization to Huobi to incentivize technology startups to establish shop in Dubai, as revealed by Huobi Group chief financial officer Lily Zhang.

The license offers a vast array of perks, nominally access to the local tech ecosystem and preferential treatment for technology research and developments, capital flows and taxes.

Huobi has further plans down its pipeline to obtain a Virtual Asset MVP License from Dubai’s Virtual Assets Regulatory Authority (VARA), making it possible for the firm to provde a full suite of cryptocurrency exchange products and services. 

“We do not have other licenses in Dubai. We do have a small office there that caters to some key account and institutional customers in the Middle East region. We are, however, applying for provisional approval for a Virtual Asset MVP License from the Dubai VARA.”

Besides the effort to enhance its footprints across the UAE, Huobi has also obtained registration on New Zealand’s Financial Services Provider Register (FSPR) to roll out its crypto trading services in the nation.

The FSPR registration is Huobi Group’s first step to work on the expansion plan it has for cryptocurrency trading business in New Zealand, since it is mandatory for every exchange to complete registration on the platform to provide trading services to local users.

“In New Zealand, cryptocurrencies themselves are not considered legal tender, but regulators treat cryptocurrency exchanges, brokers, and other businesses offering investment opportunities much like they do other financial services providers,” Zhang additionally remarked.