HTX Affiliate HBGL Soft-Launches Fiat–Stablecoin Trading in Australia

A Soft Launch That Expands Australia’s Stablecoin Access

HBGL is an Australian-based affiliate of HTX Group that has now started a soft launch of fiat-stablecoin trading services in the country. The move gives Australian traders, businesses, and institutions a path under Australia’s AUSTRAC-regulated regime to move between local currency and major stablecoins like USDT and USDC.

USDT and USDC remain the leading stablecoins globally, giving Australian users a reliable fiat–stablecoin bridge. (Source: CoinMarketCap.)

During the early phase, HBGL is testing systems, building liquidity, and demonstrating compliance while improving the bridge between digital assets and traditional finance.

What HBGL Is Launching

The soft launch centres on fiat-to-stablecoin trading for USDT and USDC, two of the market’s largest tokens. Retail users, professional traders, and institutional clients can convert in and out of these stablecoins using Australian fiat rails or choose to buy crypto online through regulated channels.

HBGL is using this controlled phase to validate its infrastructure, liquidity channels, and operational links before opening the doors more widely.

HBGL has said that the soft launch will help it validate its infrastructure, deepen liquidity channels, and support early market activity before a full commercial rollout in Australia.

Compliance First: AUSTRAC Registration And Controls

HBGL states that it is registered with AUSTRAC as a Digital Currency Exchange provider. This registration confirms that its services meet Australia’s compliance expectations for handling fiat and digital assets.

To match those rules, HBGL says it has built a full anti-money laundering and counter-terrorism financing program. That includes strict Know Your Customer checks, ongoing transaction monitoring, sanctions screening, and risk management processes aimed at catching suspicious activity.

This compliance focus is important, especially at a time when AUSTRAC has been willing to order audits and take action against other exchanges that fall short of its expectations.

Who HBGL Is and How It Ties Back To HTX

HBGL is a digital asset financial services business based in Australia that focuses on secure and compliant conversion and settlement between fiat and stablecoins. It operates with the support of HTX Group, the global digital asset ecosystem that began as Huobi in 2013 and now offers trading, custody, and related services to users in more than 100 countries.

That backing gives HBGL access to institutional-grade technology and liquidity, while its own governance and compliance setup is tailored to Australian law. The model combines global infrastructure with local oversight, so that Australian clients get deeper liquidity and more polished tools without losing the comfort of operating under their home regulatory framework.

Why Australia Matters For This Launch

Australia is a significant jurisdiction for regulated crypto services, supported by a well-defined AUSTRAC ruleset for exchanges. Providers must enrol and register with AUSTRAC, renew that registration every three years, and keep their details up to date.

For fiat ramps, this structure is critical, since it sets out how providers must manage risks such as money laundering and terrorism financing.

Recent moves by AUSTRAC show that the regulator is willing to scrutinise big names and smaller operators alike. Actions taken against multiple digital currency and remittance providers, along with directed audits of large exchanges, signal that Australia expects strong controls, not light-touch promises.

HBGL’s limited soft launch aligns with this environment, allowing controlled scaling and regulatory feedback. It lets the company scale slowly, show that its controls work in practice, and respond to regulator feedback before it expands.

What Comes After the Soft Launch

HBGL is treating this launch as the first step in a longer roadmap. During this early stage, the focus is on USDT and USDC conversions, OTC execution, and fiat settlement. As the company gains confidence in its systems and in market demand, it has flagged plans to seek additional Australian financial services permissions and to widen its product mix.

HBGL has signalled plans to broaden its product mix after securing additional licensing, which could include more fiat currencies, additional stablecoins, and expanded institutional account options, depending on regulation and market demand. The roadmap will depend on regulatory developments, banking support, and user demand.

What This Means For Users In Australia

For everyday traders, a compliant on and off ramp for USDT and USDC offers a more direct way to onramp crypto between bank accounts and stablecoins, without relying on overseas platforms that operate outside Australia’s rules set.

For professional and institutional users, it offers a pathway to build strategies that involve holding or moving large stablecoin balances through their preferred digital wallet.

Given the narrow initial service set, expectations should remain measured, especially since demand often shifts with broader crypto prices. Liquidity needs to grow, operational links with banks need to hold up, and the company must prove that its risk tools can handle higher volumes.

If these elements hold, HBGL’s launch could evolve into an important access point for how Australian users connect to the global stablecoin market.

Conclusion: A Measured Start With Long-Term Market Impact

HBGL’s soft launch of fiat-stablecoin trading in Australia brings a new, regulated route into USDT and USDC for local users. It combines the reach and technology of HTX Group with a local structure that is built to meet AUSTRAC standards and the country’s expectations for digital currency exchange providers.

For now, the rollout is cautious and limited, which is exactly the point. If HBGL can demonstrate that its systems, liquidity, and controls hold up, this early stage could mark the start of a stronger bridge between Australian dollars and the wider stablecoin economy.

FAQs

What has HBGL launched in Australia?

HBGL has begun a soft launch of fiat-to-stablecoin trading in Australia, enabling USDT and USDC conversions while it tests systems and liquidity under regulated conditions.

Is HBGL registered with AUSTRAC?

Yes. HBGL states that it is registered with AUSTRAC as a Digital Currency Exchange provider. This registration requires strict compliance processes, including KYC, transaction monitoring, and ongoing reporting obligations to maintain regulatory oversight.

Which stablecoins are supported right now?

During the soft launch, HBGL supports USDT and USDC. These stablecoins are widely used for trading, payments, and treasury management, giving Australian users a straightforward on and off ramp for digital dollar tokens.

Why did HBGL choose a soft launch instead of going fully live?

The soft launch allows HBGL to validate infrastructure, build liquidity, and confirm compliance before expanding. It reduces risk while allowing real user activity to shape the upcoming full rollout.

Who can access HBGL’s services during this phase?

HBGL’s soft launch is open to retail users, professional traders, and institutional clients who need a regulated path between fiat and stablecoins. Eligibility depends on completing required verification checks under AUSTRAC rules.