Huobi-Branded Crypto Exchange Launches for Malaysian Market

There's now an additional cryptocurrency exchange serving the Malaysian market, after a new Huobi-linked platform announced its launch Friday.

Huobi Labuan said in an emailed press release it aims to provide users in the nation with a "safe and regulated" platform for trading cryptocurrencies.
The exchange received a digital asset trading brokerage service license from "Malaysian authorities" in September for a nine-month trial period of operation, according to the release.
Responding to a question from CoinDesk, a representative detailed that the Labuan Financial Services Authority issued the license.
Under the license, Huobi Labuan is permitted to provide spot and derivatives trading services in Malaysia.
The exchange will initially support over a dozen different crypto assets including bitcoin, ether, EOS and Huobi's own HT token. After the trial period, more cryptocurrencies can be added.
The crypto exchange has been set up as a "local operating partner" of Huobi Cloud – a scheme allowing "vetted partners" to launch exchanges leveraging Huobi’s trading technology and digital asset infrastructure.
CoinDesk reached out for further details on who the partner entity is.
Huobi Global is the world's second-largest cryptocurrency spot exchange by volume, according to CoinMarketCap.

Update (Nov. 28, 9:54 UTC): Added regulating authority.

Huobi Labuan said it's been licensed in Malaysia for a nine-month trial period of cryptocurrency spot and derivatives trading services.