The Hong Kong financial landscape is witnessing a fresh wave of innovation as publicly listed companies begin to embrace the digital asset revolution. Among the most notable developments is New Huo Technology, a Hong Kong-listed firm making headlines with its newly launched crypto exchange platform—New Huo HK. This emerging player has already begun offering key cryptocurrency trading pairs, including Bitcoin (BTC/USD) and Ethereum (ETH/USD), signaling a strategic move into regulated digital asset markets.
While still in its early stages, the launch of New Huo HK reflects growing confidence in Hong Kong's evolving regulatory framework for virtual assets. As the city positions itself as a global hub for compliant crypto innovation, this initiative by a publicly traded entity marks a significant milestone in bridging traditional finance with blockchain-based trading.
Strategic Move by Former Huobi Leaders
At the heart of this venture are two well-known figures from the crypto industry: Leon Li (Li Lin), former founder of Huobi Global, and Du Jun, co-founder of the Huobi Group. After exiting Huobi, both have redirected their focus toward building regulated financial infrastructure through New Huo Technology.
Leon Li currently serves as a non-executive director and controlling shareholder of the company, holding approximately 53.37% of issued shares. Du Jun, meanwhile, holds the dual roles of CEO and executive director, steering the firm’s strategic direction in digital asset services.
Despite market speculation about the operational status of New Huo HK, the company clarified that the platform is currently functioning as a trial operation site during its ongoing applications for financial and digital asset licenses across major jurisdictions. It is not yet officially open for public trading.
👉 Discover how regulated crypto platforms are shaping the future of digital finance.
Limited Trading Pairs and No Public Registration Yet
As of now, the New Huo HK website offers only three trading pairs:
- USDT/USD
- BTC/USD
- ETH/USD
Notably, there is no visible trading volume, and crucially, no registration option available to general users. Instead, the login page includes a clear disclaimer: the service is exclusively for professional investors, aligning with Hong Kong’s stringent regulatory standards under the Securities and Futures Ordinance.
This restriction underscores the platform’s compliance-first approach. According to Hong Kong regulations, professional investors include:
- Institutional investors such as trust corporations with at least HKD 40 million in total assets;
- Corporations or partnerships with investment portfolios exceeding HKD 8 million or total assets over HKD 40 million;
- Individual investors who possess investment portfolios worth at least HKD 8 million in cash, deposits, or securities recognized under the ordinance.
By targeting this high-net-worth segment initially, New Huo HK positions itself within a niche but powerful market—one that demands security, transparency, and regulatory adherence.
Regulatory Compliance and Licensing Progress
New Huo Technology’s journey toward full regulatory compliance has been methodical. In 2020, a subsidiary under Huobi Technology (now rebranded) obtained Type 4 (advisory) and Type 9 (asset management) licenses from the Hong Kong Securities and Futures Commission (SFC). These allow the firm to offer professional investment advice and manage portfolios involving virtual assets.
In 2022, the SFC formally accepted applications for Type 1 (securities dealing) and Type 7 (automated trading services) licenses—critical steps toward operating a fully licensed digital asset exchange. This progression highlights New Huo’s long-term vision: not just launching an exchange, but building a regulatory-compliant ecosystem integrated with institutional-grade services.
That same year also saw leadership changes. On November 30, 2022, Wu Shupeng stepped down as CEO and executive director to pursue other ventures. Du Jun was appointed as his successor, reinforcing continuity in the company’s mission to advance regulated blockchain finance.
Partnership with Coinbase Strengthens Institutional Credibility
A major milestone came on December 23, 2022, when New Huo Asset Management announced a strategic collaboration with Coinbase, one of the world’s most regulated crypto exchanges. Through this partnership, New Huo became one of the first licensed institutions in Hong Kong to offer discretionary account management services for professional investors using Coinbase’s institutional-grade custody and trading infrastructure.
This means qualified clients can entrust New Huo to actively manage their virtual asset portfolios on Coinbase—effectively combining local regulatory approval with global technological reliability.
Such alliances enhance trust among institutional players and signal that Hong Kong-based firms are serious about building secure, transparent gateways between fiat finance and decentralized economies.
👉 See how leading platforms integrate compliance with cutting-edge crypto trading tools.
Market Implications and Competitive Landscape
Although Du Jun recently downplayed expectations—stating on social media that “New Huo HK” would not be among the company’s official product launches this year—the mere existence of the trial platform fuels speculation about future ambitions.
Industry insiders report that several long-time employees who worked closely with Leon Li at Huobi have left to join this new initiative. If New Huo HK eventually secures full licensing and goes live, it could pose a competitive challenge to existing platforms like Huobi Global (now HTX)—especially in serving Asia’s growing base of accredited crypto investors.
Moreover, with Hong Kong actively promoting itself as a Web3 hub—including recent policy moves to encourage retail crypto trading under strict safeguards—the timing may be ideal for a well-capitalized, listed entity like New Huo Technology to step in.
Core Keywords:
- Hong Kong crypto exchange
- Bitcoin trading Hong Kong
- Ethereum USD pair
- regulated cryptocurrency platform
- professional investor crypto
- New Huo HK
- SFC licensed crypto firm
- institutional crypto services
Frequently Asked Questions (FAQ)
Q: Is New Huo HK currently open for public trading?
A: No. The platform is currently in trial mode and only accessible to professional investors as part of its license application process. There is no public registration available yet.
Q: Who owns New Huo Technology?
A: Leon Li (Li Lin), former founder of Huobi Global, is the controlling shareholder with approximately 53.37% ownership. Du Jun serves as CEO and executive director.
Q: What licenses has New Huo Technology obtained?
A: The company holds Type 4 (advisory) and Type 9 (asset management) licenses from the SFC. Applications for Type 1 (trading) and Type 7 (automated trading systems) are under review.
Q: Can individual retail investors use New Huo HK?
A: Not currently. Access is restricted to professional investors who meet minimum portfolio thresholds set by Hong Kong law.
Q: Is there any connection between New Huo HK and Huobi Global?
A: While some former Huobi team members are involved, New Huo HK operates independently under New Huo Technology, a separate listed entity focused on compliant digital asset services.
Q: Why is the partnership with Coinbase important?
A: It enables New Huo to offer regulated discretionary management of crypto assets via a globally trusted exchange—enhancing credibility and operational efficiency for institutional clients.
👉 Explore secure, compliant ways to engage with Bitcoin and Ethereum markets today.