Huobi Group Acquires BitTrade, Relaunches Japan-based Crypto Exchange

Huobi Group, a multinational cryptoasset financial services provider, has announced that the company’s Japan division has “relaunched” itself as a “fully regulated exchange” under Japan's financial regulator, the Financial Services Agency (FSA).

"One Of The First" Exchanges To Be Licensed By FSA

Huobi Japan’s relaunch also involved the firm’s merger with BitTrade, a leading global trading company. Commenting on Huobi’s acquisition of BitTrade and the relaunch, Leon Li, the founder and CEO of the Huobi Group, remarked:

This is an important milestone for us. Firstly, because the Japanese market is a very important one to us and, secondly, because working with regulators is a longstanding priority for Huobi Group. We're proud to say that Huobi Japan now has one of the first 17 licenses issued under the FSA's ground-breaking regulatory regime.

Meanwhile, Haiteng Chen, the CEO of Huobi’s Japan-based operations, said:

We are extremely pleased to once again be offering our services to the Japanese trading public. We're looking to continue to grow our presence here while offering top-notch digital asset trading services in Japan.

Secured By "A+ Ranked" SSL Encryption, 24/7 Support

At present, Huobi Japan’s crypto exchange supports trading in bitcoin (BTC), ether (ETH), bitcoin cash (BCH), litecoin (LTC), XRP, and monacoin (MONA). Similar to other leading crypto exchange operators, Huobi’s offices operate a 24/7 customer service support desk. Huobi Japan’s exchange platform also reportedly uses specialized security features including a Distributed Denial of Service (DDoS) attack “countermeasures system”, and “A+ ranked” SSL certification.

“To mark the occasion” (relaunch event), Huobi’s Japan-based exchange will not be charging transaction fees on both fiat and cryptocurrency trading “for a limited time.” Additionally, Huobi Japan will offer crypto and blockchain-related news updates in the Japanese-language. Huobi’s news and educational content is currently accessible through one of the company’s official Twitter accounts.

Huobi Introduces Beta Version Of EOS-based DEX

Huobi’s research division also provides “in-depth industry and market news” (in Japanese) that can be viewed at: https://coinpost.jp/?tag=huobi. As CryptoGlobe reported last week, Huobi has introduced a beta version of its EOS-based decentralized cryptocurrency exchange (DEX), which is referred to as “Huobi EOS.”

The DEX currently supports three trading pairs: EOS/BTC, EOS/ETH, and EOS/USDT. After receiving feedback from users, the Singapore-based exchange will reportedly consider adding more pairs.

As covered, Huobi Pool, the firm’s crypto mining division, announced (in December 2018) it would be launching a trading platform that will use EOS as a base currency. Cao Fei, Huobi Pool’s CEO, had said: 

As an EOS super node, Huobi Pool has placed its ecological development high on its list of priorities. Launching this EOS exchange is simply the next logical step in our support.

Sub-accounts in Crypto: What They Are and How They Work

 

Julia Gerstein, a crypto trading bots enthusiast and a content writer at TradeSanta. My final goal is to help readers find what they need, understand what they find, and use what they understand appropriately.


Speaking generally, a sub-account is a segregated smaller account that is tied to a larger primary account. Sub-accounts may serve different functions depending on the objectives of their owners. The term can refer to multiple email addresses linked to one user or secondary accounts tied to a primary account with a financial institution or a bank.

For this article, we will be looking at sub-accounts as they exist in the crypto industry, and specifically on trading platforms.

Built-in Sub-Accounts

On trading platforms, the sub-accounts feature allows users to create a set of subsidiary accounts with different trading strategies, funds and end customers. On some platforms, general accounts already come with built-in sub-accounts.

For example, exchange platform Crypto Facilities provides each user with cash and margin accounts when they sign up. While deposits and withdrawals are completed with the cash account, trading an instrument requires users to make an internal transfer from a cash account to their margin account that corresponds to the instrument in question.

Each instrument has its own margin account. This grants users more control over their funds and allows them to manage risks for each instrument separately from their main balance.

Optional Sub-Accounts

Other cryptocurrency exchanges, such as Gemini and Binance, have launched sub-accounts as an optional feature for institutional investors.

As an optional feature, sub-accounts can serve to introduce additional security measures and different access levels between the main account and its subsidiaries. Binance has underlined the differences between a master account and its subsidiaries, providing the former with the exclusive ability to view all data and balances, transfer funds between accounts, and have full managerial control and access to a range of asset audit tools.

Here master accounts have sole control over the movement of assets between sub-accounts, and can grant each of them different access levels and permissions. This ensures that the main account has the power to direct and monitor the actions of all its associated accounts, while each sub-account can perform its function independently from other sub-accounts.

Not Only for Institutional Investors

While institutional investors have been able to create sub-accounts for a while, this feature is still being introduced by more and more major exchanges.

Now even individual investors can create subsidiary accounts to try and assess the performance of distinct trading strategies. For example, HitBTC recently introduced its own sub-accounts feature that is now available per user’s request.

At HitBTC, sub-accounts enable users to create separate subsidiary accounts with which they can utilize various trading styles and strategies with operational autonomy. While each sub-account is separate, all of them are still tied to a master account and contribute to the cumulative volume of all accounts connected to the master.

Because trading volume is measured cumulatively, the use of the subaccounts feature can open up additional benefits for traders such as lower commissions due to progressive fee tiers that reward users for contributing to the liquidity on the trading platform.

Therefore, users can perform a variety of different trading activities unconnected to each other, and all the activities will still weigh in the financial favor of the parties involved. Master accounts also have access to important data such as the performance of each sub-account and total trading fees of all linked accounts combined. While the feature is designed with institutional and corporate clients in mind, on HitBTC any user can create sub-accounts upon request.

The adoption of this feature by more and more trading platforms will be beneficial for both institutional and individual traders. Some users can utilize it to execute different trading strategies or try various algorithms with a clear picture of their effectiveness, others to manage their team and analyze the performance of each account securely and conveniently.

Featured image by Tyler Franta on Unsplash