At a Glance
Huobi Technology Holdings Limited (Huobi Tech) has announced the signing of a Memorandum of Understanding (MOU) with the DIAE. Both parties intend to pool their resources and enter into definitive agreements regarding the potential business collaboration contemplated by the MOU.
Huobi Technology Holdings Limited (Huobi Tech) has announced that on 22 September of this year, it has entered into a non-legally binding memorandum of understanding (MOU) with the Division on Investment and Enterprise of Kyrgyz Republic (DIAE) with a potential business collaboration in the Kyrgyz Republic, Huobi Tech said in a press release.
The collaboration will entail DIAE and the company agreeing to work together based on equality, goodwill, respect, and trust to implement cryptocurrency exchange projects, develop mutually beneficial business partnerships, and contribute to the Kyrgyz Republic’s digital development economy.
Both the parties intend to leverage their respective resources and enter into definitive agreements regarding the potential business cooperation contemplated by the MOU to bring strong synergy to the parties’ future businesses, according to the MOU.
According to the press release, the Board believes that entering into the MOU is consistent with its business goals and is in the company’s best interests and its shareholders as a whole. If realized, the potential business cooperation contemplated by the MOU provides good business opportunities in the Kyrgyz Republic, allows the company to expand into the Central Asia market, and diversifies its client base and business operations.
Huobi Tech will steadfastly maintain its blockchain and virtual asset architecture. It will continue to actively apply for virtual asset and finance-related licenses in major markets worldwide to accelerate the compliance process. Huobi Tech is dedicated to becoming Asia’s leading one-stop virtual asset service platform, the company said.
In the future, Huobi Tech will continue to explore, develop, and improve a new generation of compliant products and services systems tailored to the needs of institutions. The company believes that its long-term and business diversification strategy will generate long-term and sustainable returns for shareholders in the future.
Huobi Tech currently provides data center, cloud-based, SaaS, virtual asset management, custody, trust, and other related services. The company was included in the MSCI Hong Kong Small Cap Index in May 2021.