HBIT Inc, which is a a subsidiary of crypto exchange Huobi, has received a financial license from FinCEN.

According to the press release:

“This will create the basis for doing business related to cryptocurrencies in the United States in the future as part of the strategic goals of globalization and compliance.”

The exchange’s Hong Kong divisions have also received asset management and securities advisory licenses from the local regulator.

Huobi is one of the largest spot digital asset trading platforms, with over $1 billion in daily trading volume.

The trading platform announced in June it had been listed as a financial services provider in New Zealand and received a so-called “innovation license” in Dubai.