Huobi Launches Cryptocurrency Exchange in Argentina

Asia Blockchain Review
September 25, 2019
Huobi Launches Cryptocurrency Exchange in Argentina

Crypto and blockchain company Huobi Group, which operates one of the world’s biggest cryptocurrency exchanges, recently announced the official launch of a digital asset exchange based in Argentina, according to a press release dated September 17. 

“Huobi Argentina” was launched with Houbi Cloud, a service that allows over-the-counter (OTC) and digital asset exchanges to be established on top of Huobi’s platform.

Fiat Gateway to Draw in Global Investment

Currently, users can purchase cryptocurrencies with Argentine Pesos (ARS) through Huobi’s over-the-counter service, but Huobi Argentina is set to introduce a fiat gateway, expected to launch in October this year, which will allow users to buy crypto using credit cards, bank transfers, and some supported digital payment providers in the region.

Carlos Banfi, CEO at Huobi Argentina, said the gateway will attract global investment, stating: 

“Argentina is South America’s most promising market for blockchain development. There already exists a general consensus to break from a reliance on the local currency and banks, and with Huobi’s entrance into the market, it is a great opportunity to move the needle on blockchain and crypto adoption in Argentina.”

Houbi Group Steadily Expands Business  

In July, Huobi’s Thailand office became the fifth company to obtain an official license to operate a fully-regulated digital asset exchange in the country. The exchange run by Houbi Thailand is expected to launch in Q3 2019, offering both crypto-crypto trading and fiat on-ramps under government regulation.

It was reported in June that Huobi was planning to open a crypto exchange in Turkey by the end of 2019. The exchange will purportedly be under the control of official branch of Huobi Group, Huobi Middle East, Africa, and South Asia (Huobi MENA), based in Dubai.


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