Obtained by the government.

Fuovo said it has acquired BitTrade. On September 12, Fujio Japan Holdings, a subsidiary of Obi Global, became the largest shareholder after acquiring a stake in BitTrade. With this acquisition, Huovi intends to integrate the exchanges into the Japanese market.

The reason for this acquisition is that it is the first of Huovi Corporation to acquire a license that allows for legal currency transactions. Huobi has established a corporation in Korea, Singapore, the United States, Japan, Hong Kong, China, Australia, the United Kingdom, Brazil and Canada and operates cryptography. Of these, Australia can trade in legal currency but is not a government permit system. This is the first time that the government has been able to trade authorized and legal currency transactions.

Founded in 2016, BitTrade is one of the 16 government-authorized cryptographic exchanges licensed by the Japanese Financial Services Agency. In May, Singapore businessman Eric Cheng bought for $ 49 million, and this time Obi Japan Holdings acquired control of the company by acquiring most of its stake. Huovi Korea explained that the cryptographic exchange, which received government approval due to the strict regulation of the Japanese Financial Services Agency, has a considerable premium. Bit trade can trade Bit Coin, Ripple, Etherium, Light Coin and Monaco.

“This is the beginning of a big step forward in the Japanese cipher money market,” said Chris Liu Obi, CFO of the acquisition. “The Huovi Group is making every effort to protect the interests of investors by conducting legitimate business in the cryptographic market,” said Oh Bae Kyung, director of communications at Oh-kyu Korea. “We are embarking on investment and business plans to create a block-chain ecosystem.”