The cryptocurrency exchange Huobi is all over the cryptocurrency news now and today, we are talking about one of its Asian branches. Huobi Indonesia is launching a fiat gateway which will help it enable fiat-to-crypto trading between the Indonesian Rupiah (IDR) and Tether (USDT).
As a press release from December 27 shows, the Huobi Group officially announced the launch of the new fiat currency gateway which will make it possible for Indonesian investors to utilize the IDR and trade more than 250 cryptocurrencies available on Huobi Indonesia, its subsidiary.
The senior director of Huobi Cloud David Chen talked about this and said:
“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.”
As it stands, Huobi Indonesia plans a lot and considers that particular market as a “major opportunity to contribute to the growth of the greater blockchain community and help drive crypto adoption globally.” The CEO of Huobi Indonesia Xiong Dan added that the new fiat gateway is an “exciting milestone” for the Huobi team in the country. “We will continue to expand the Indonesian market, consolidate and improve service quality,” he said.
What is evident now in the Huobi news is that an expansion is on. This first began with the move to Turkey and the localized web and app versions of the platform. At the time, we reported that Huobi is planning a fiat onramp for the Turkish Lira by the end of the year.
As of recently, the cryptocurrency exchange also completed its executive pursuit in Turkey and appointed Alphan Gogus (a known veteran in crypto and finance) as its new general manager for its Turkish branch. At the launch, the regional president of the Huobi Group Mohit Davir talked about how important hiring a leader is for establishing a milestone like this, adding that “Huobi will continue to build their team in Turkey.”
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