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Gibraltar builds stronger links with China's Huobi Group

Gibraltar is building closer links with China's Huobi Group, one of the world’s largest cryptocurrency exchanges which last year established a presence on the Rock.

Albert Isola, Gibraltar's Minister for Commerce, met this week with Leon Li, the founder and chief executive of Huobi, during a visit to Beijing.

"We value and welcome Huobi’s decision to establish an operation in Gibraltar and our meeting with Leon Li and the senior management team at Huobi Group was all about understanding Huobi’s strategy for the next 24 months and to discuss how Gibraltar can support and facilitate this fast-growing international business," Mr Isola said.

“During a very open and productive meeting we agreed a number of new initiatives between the Government of Gibraltar and Huobi and we will be shortly announcing further details on the areas of future co-operation covered in a Memorandum of Understanding we agreed at the meeting.”

Although the Gibraltar Government did not provide details of the nature of the MoU, the state-owned English-language newspaper China Daily reported yesterday that it aimed for "…more cooperation on encryption techniques, including business, education and academic research exchanges."

Huobi Gibraltar received its DLT Providers licence from the Gibraltar Financial Services Commission last year.

Mr Isola was accompanied at the meeting by Gibraltar Finance senior executives Michael Ashton and Paul Astengo.

Also present were Joey Garcia of Isolas, Huobi Gibraltar’s legal advisors, and Bruno Callaghan of Callaghan Insurance.