<p>Cryptocurrency exchange Huobi’s Japanese unit, Huobi Japan, has raised 500 million yen (~$4.6 million) in new equity funding.</p> <p>Announcing the news on Friday, Huobi Japan <a href="https://huobi.zendesk.com/hc/ja/articles/360037936253">said</a> it has issued “new shares” to the Japanese financial services group FPG Corporation for raising 499,968,000 yen. The shares sale is via a third-party allotment and is “part of our capital policy for business expansion in Japan,” said the exchange.</p> <p>With the fresh funding in place, Huobi Japan said it is aiming to contribute to the digitalization of the country’s securities market and provide new financial assets and payment methods.</p> <p>“We are confident that we can create … safer and more reliable services for our customers,” said the exchange, which is licensed with Japan's Financial Services Agency (FSA), the country’s financial market watchdog.</p> <p>Huobi Japan was set up last year after Huobi Group <a href="https://www.theblockcrypto.com/linked/20715/crypto-exchanges-huobi-japan-and-fisco-under-japanese-regulators-microscope">acquired</a> a majority stake in local licensed cryptocurrency exchange BitTrade. Japan<a href="https://www.theblockcrypto.com/tag/japan"> requires</a> all cryptocurrency exchanges to get registered with the FSA to operate in the country.</p>