Huobi Japan Holding Ltd, an utterly owned auxiliary of Huobi Global, recently has obtained a majority stake in BitTrade held in Japan- one of only sixteen synchronized crypto exchanges in the nation.

According to the reliable source, Huobi Japan will acquire 100% of the shares from True Joyful Limited, BVI that holds the entire interest of the beneficiary in the business. Recently, FXTF Asset Investment Private Ltd, purportedly had seventy-five percent of the shares, with 25 percent from FC Trade Financial.

Huobi Japan’s acting President Haiteng Chen was elected as BitTrade chairman, while Chris Lee, who left his position as Chief Executive Officer of OKEx and CFO of mother operator OkCoin in May, join the team of Huobi and was chosen as its independent director. Huobi Capital Inc Chief Executive Officer, Huo Li, will undertake the job of an outside director.

Both the officials of BitTrade and Huobi are very determined to create the platform to get their global presence bigger and broader. Business Insider published a press release stating that Huobi Japan will scale up this platform insistently in order to give more specialized as well as easy and safe to use services.

Chris Lee, the newest elected BiTrade director, Chief Executive Officer for Huobi Japan Holdings, as well as Huobi Universal Inc. CFO, further simplified the objectives of BitTrade’s following method. According to Chris Lee, looking ahead, Huobi Japan will control on Mr. Cheng’s worldwide network and dedication for blockchain system as they keep on expanding worldwide. Controlling on BiTrade’s leadership team as well as its approved license by the Japanese government, this is only the start as they are looking forward to making BitTratde’s as the leading and foremost player in the digital currency market of Japan.

Huobi according to the research is one of the biggest digital currency exchanges in the world. In fact, it ranks 4th by daily trade volumes with more than USD573.2 million on trades in just a matter of twenty-four hours. Huobi has collected more than one trillion US dollar since it was established in the year 2013. The company has a team in various parts of the world like Korea, Singapore, UAE, Luxembourg, Australia, Hong Kong, and many other locations.

BitTrade, on the other hand, is one of only sixteen regulated trading platforms. It is approved by the Japanese government and the only platform that is acquired entirely by investors from all parts of the world including Singaporean businessman and multi-millionaire Eric Cheng.