Crypto exchange Huobi is reportedly able to start rolling out cryptocurrency offerings in Australia, following its finalized registration as a digital currency exchange provider with the local authority. 

Specifically, the newly completed registration with the Australian Transaction Reports and Analysis Centre (AUSTRAC) on the first day of August has reportedly granted Huobi the legal freedom to provide fiat to cryptocurrency trading services in the nation.

The firm additionally revealed its intention of concentrating on offering OTC services following the acquisition of its registration.

The exchange reportedly carries on with its efforts to widen the scope of its footprints, with additional plans for setting up shop in the American market. 

Huobi reportedly established its US-based subsidiary, HBIT, in July this year. It has received a Money Services Business license, with the company hoping to introduce exchange services in the future.

Huobi further managed to obtain licenses in New Zealand and the United Arab Emirates in June this year. Dubai’s Virtual Assets Regulatory Authority (VARA) gave the exchange a provisional green light to start offering its services on the local scene. 

Huobi’s local entity will provide a full suite of cryptocurrency exchange products and services, which will function under a test-adapt-scale model as part of the process of becoming licensed. 

The firm reportedly had to navigate through some rough waters in Thailand during the same month, eventually shuttering after not being successful to stay compliant with Thai Securities and Exchange Commission regulations.

Huobi reportedly had to move its operations to Gibraltar late last year, due to impacts created by China’s most recent crackdown on cryptocurrency use. The British Overseas Territory has become an attractive location for cryptocurrency businesses and service providers.