Huobi Global, one of the largest exchanges where volumes are traded, has announced a partnership to make it easier for its Latham-based customers to access cryptocurrencies. The exchange has partnered with the Asropay payment services platform to enable customers in Latham to buy cryptocurrency with fiat currencies in multiple countries.
Huobi to make it easy to buy Crypto in Latham
Huobi is looking to become more attractive to Latham-based customers looking to enter the cryptocurrency market for the first time. The leading crypto exchange has announced a partnership with payment processing platform AsroPay to enable customers in Latin America to buy crypto using fiat currencies in select countries.
Customers have the opportunity to buy in countries like Brazil, Mexico, Colombia, Chile, Peru and Uruguay and must use Astropine Wallet to purchase the properties. Various payment methods are supported, including credit and debit cards and bank transfers, the company announced. Region-specific options such as Pix in Brazil and SPEI in Mexico are also supported.
The company plans to provide a better experience to its growing clientele in the area. On this, Lily Zhang, Chief Financial Officer of Huobi Global said:
Latin America lays claim to a young and active population full of enthusiasm for the crypto industry, and we have noticed a significant increase in the number of Huobi Global users from this region.
Zhang also explained that the goal of the company’s move is to make “buying and trading digital assets a safe, convenient and enjoyable experience for everyone.”
Jump through hoops
This initiative will allow Huobi to compete with local exchanges and P2P (peer-to-peer) offerings in the region in gaining users by accepting local payment options. International or dollar-based debit cards are hard to come by in countries like Venezuela, which powers access to marketplaces like Binance P2P, which allow Venezuelans to earn crypto with their fiat currency. Argentina had exchange controls that could affect the supply of foreign currency.
However, even with these problems, some LATAM nations are among the top 20 countries with the highest cryptocurrency adoption, according to a recent report by Chainalysis. Brazil is listed at number seven, followed by countries such as Argentina.
What do you think about Huobi’s partnership with Astropay to simplify fiat-to-crypto transactions in Latham? Tell us in the comments section below.
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