Crypto Exchange startup Crypto Huobi Japan is raising $4.6 million investment from Japanese Tokai Tokyo Financial Holdings 

Japanese crypto exchange startup Huobi Japan announces today that it’s raising $4.6 million (JPY 500 Million) in new funding from Japanese financial services firm Tokai Tokyo Financial Holdings. The fund, which is for the Japanese branch of cryptocurrency exchange Huobi, will be used for expansion.

As part of the funding agreement, the two company will work together to strengthen their management foundation to evolve into an advanced integrated financial group and expand products and services that meet customer needs by actively deploying leading technologies such as FinTech and digitalization for our financial services, Tokai Tokyo Financial Holdings said in a different press release.

Founded in 2013, Huobi Group is a global blockchain startup that provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. Huobi Japan is a centralized cryptocurrency exchange located in Japan. It currently has 24-hour trading volume from 6 coins and 10 trading pairs. Huobi Japan has been licensed with the Financial Services Agency (FSA) since 2019.

“As Huobi Japan continues to provide safe, secure, and customer-first financial services, we will benefit from the capital and business alliance with Tokai Tokyo Financial Holdings,” said Haiteng Chen, CEO of Huobi Japan. Chen added, “Huobi Japan being leader in security-focused blockchain technology was of big help in helping us the funding.” The funding is expected to aid Huobi Japan in ongoing expansion plans.

With the achievement, the firm has been able to embark on a localization strategy in partnership with traditional firms in the domestic Japanese market. In October, Huobi Japan also secured an approximately USD 5 Million round of funding Financial Products Group (FPG), which is also a large traditional financial firm. With a second large round of funding from TTFH secured, Huobi Japan has shown alliances with local companies are sustainable and will continue to expand, further promoting the globalization of finance and accelerate the development of block chain technology.

Commenting on the issuance, Chen added “That Tokai Tokyo Financial Holdings chose to collaborate with Huobi Japan indicates greater mainstream recognition of our blockchain technology by traditional brokerage services. TTFH is a comprehensive securities firm, which will find many areas to benefit in from partnering with Huobi Japan.” The two firms will now be able to integrate resources to provide optimal financial products and services for Japanese users.