Cryptocurrency exchange Huobi is launching a new fiat gateway in Indonesia that enhances the direct trade of Indonesian rupiah and blockchain-based cryptocurrency Tether (USTD). The gateway also facilitates trading of over 250 cryptocurrencies supported by Huobi.
The Huobi Group announced on December 27 that investors can now purchase more than 250 cryptocurrencies available on its subsidiary, Huobi Indonesia, with the Indonesian rupiah. David Chen, senior director of Huobi Cloud, stated:
“The new fiat gateway is part of Huobi’s global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets across the globe […] By continuing to add new fiat/crypto pairs for Huobi Cloud 2.0, we want to make it frictionless for investors anywhere in the world to trade digital assets on a trusted and proven platform.”
“We will continue to expand the Indonesian market, consolidate and improve service quality,” Huobi Indonesia CEO Xiong Dan added, claiming the new fiat gateway to be an “exciting milestone” for the Huobi team in Indonesia.
According to Cointelegraph, the Huobi Group is planning a Turkish Lira (TRY) fiat gateway to provide Turkish users an accessible means to trade more assets with greater liquidity. The Turkish Lira onramp is set to be launched by the end of the year.
Livio Weng, CEO of Huobi Global, said at an event in Istanbul in October last year that “Turkey is an important region for us, and we plan to bring Huobi’s six years of industry expertise, advanced ecosystem, and a standard of trust to the market, and trigger key conversations around long overdue for a thriving crypto community.”
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