Huobi, a Thailand based Crypto-Exchange, has obtained the license and it is going to be the fifth fully operational regulated crypto exchange in the country. 

Houbi Group, which is also the operator of Singapore-based popular exchange Houbi Global, made an official announcement on July 24, said that Huobi Thailand is anticipated to release in Q3 2019, providing both regulated crypto-to-crypto trading and fiat on-ramps.

Details about the foundation of the crypto exchange have also been disclosed in which Houbi Thailand will depend on the "Huobi Cloud Platform." The cloud platform was launched in 2018 and is expected to help in forming digital asset exchanges on Huobi's existing platform.

The resource helps in the Group's global expansion strategy, enabling the development of trading venues with order matching, asset management, wallet, and clearing system built Huobi Global, and offering partners with access to liquidity and market data.

The announcement also says that Houbi Cloud to help to release in 120 exchanges globally, some of the countries include Russia, United Kingdom, Hong Kong, Singapore, Indonesia, Canada, and Brazil.

According to the Huobi's press release, Thailand has defined regulation of its domestic crypto market, bringing the sector under the continuous monitoring of its Securities and Exchange Commission (SEC) in 2018. A dynamic approach to the crypto regulation has been driven by the country's finance ministry about initial coin offerings.

In the beginning of this year, the ministry issued cryptocurrency business licenses to four crypto-related firms under the proposal of the Thai SEC board. Two more applicants failed to with Thai SEC regulations and were rejected.

Based on the scope in which Thailand is investigating crypto assets and exchanges, the fact that Huobi has been granted the required licenses with the Thai Securities and Exchange Commission (SEC)'s approval is absolutely a great start to expand their services.

Before a few days, the governor of the Bank of Thailand stated that the institution is open to talking about Facebook's Libra Stablecoin with the company, despite opinions that the token can face legal issues entering the local market under current provisions.