HTX Group’s Australian affiliate HBGL has begun operations in Australia with a soft launch that introduces fiat–stablecoin trading pairs, the company announced Monday. The rollout, which initially supports USDT and USDC to fiat conversions, is being positioned as a measured entry into the local market designed to validate infrastructure, deepen liquidity and serve retail, institutional and professional clients ahead of a full commercial launch.
HBGL said it is registered with AUSTRAC as a Digital Currency Exchange (DCE) and will operate under a comprehensive AML/CTF compliance framework, including strict KYC procedures, ongoing transaction monitoring and layered risk controls. The company described the soft launch as a way to test core systems, fine-tune operational processes and ensure its services meet Australian regulatory expectations before scaling.
Fully backed by the HTX Group, HBGL will lean on the broader organization’s technological and liquidity resources while keeping its own governance and compliance structure tailored to Australian rules. HTX, which began life as Huobi in 2013 and has since expanded into a global digital-asset ecosystem, provides institutional-grade capabilities that HBGL says will bolster its market offering.
Compliant Stablecoin Liquidity Services
In practical terms, HBGL’s initial service set during the soft launch will focus on fiat settlement, over-the-counter (OTC) execution and liquidity sourcing. The firm also signalled plans to pursue additional Australian financial services licences to support a broader product roadmap in the future. A targeted marketing push will run alongside the phased rollout, with wider awareness campaigns to follow as HBGL’s capabilities expand.
“Our objective is to establish a trustworthy, compliant, and reliable on-and-off-ramp for stablecoin liquidity in Australia,” said a spokesperson for HBGL. “The soft launch phase allows us to test, refine, and scale our service offering in a controlled setting, ensuring that we meet both regulatory expectations and client needs.”
HBGL’s entry comes as Australian regulators continue to sharpen the compliance expectations for digital asset firms and as other global exchanges have sought AUSTRAC registration to establish regulated fiat rails for local customers. By registering as a DCE and spelling out its AML/CTF controls, HBGL appears to be positioning itself to operate within that evolving framework while offering market participants an alternative route between fiat and the two largest stablecoins by market use.
HTX’s evolution from a single exchange into a multi-business blockchain ecosystem is central to HBGL’s pitch. The parent group highlights a strategy focused on global expansion, security and compliance, and says it delivers exchange, custody and financial infrastructure to millions of users worldwide, capabilities HBGL says it will draw on as it builds out services in Australia.
For now, HBGL’s soft launch represents a cautious but notable move to bring regulated stablecoin liquidity to Australian markets. The company’s next steps, moving from testing to full availability and securing any further licences needed for expanded products, will be watched closely by market participants and by regulators increasingly attentive to how crypto firms manage risks and comply with local rules.
Source: https://blockchainreporter.net/htx-affiliate-hbgl-enters-australian-market-with-soft-launch-of-fiat-stablecoin-services/
