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Huobi Partners With UAE Real Estate Firm, Enabling Crypto Payments

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The major crypto exchange Huobi partners with UAE real estate firm in the United Arab Emirates mainly to allow real estate investors to pay in cryptocurrencies. As the Huobi news now show, the Singapore-based exchange has entered the partnership with fam Properties, a tech-driven real estate agency that is based in Dubai.

As seen from the announcement shared by the UAE business publication AMEinfo.com, the main goal is to offer crypto payment options for its real estate investors. Specifically, the update will enable fam Properties to accept payment in cryptocurrencies like Bitcoin (BTC), Ether (ETH), XRP as well as other major cryptocurrencies including stablecoins.

While Huobi partners with the UAE real estate firm, the officials note that this partnership is mainly oriented in simplify investing in the country. Also, analysts in the cryptocurrency news say that the move will provide the market with more value, according to the CEO Feras Al Msaddi. He said:

“This partnership will provide our clients immense opportunity and the ease of investing in prime locations in the UAE. Cryptocurrencies are becoming an increasingly popular payment method all over the world, and this added choice will increase our property transactions and bring more value to the real estate market here.”

There is still an update expected by the firm and its plans when it comes to tackling the volatility linked to crypto markets. What’s certain is that Huobi is legally compliant and licensed by Dubai Multi Commodities Centre (DMCC), an infrastructure provider for expanding commodities trading in the country.

“If someone wants to buy property and use crypto as a payment currency, then we will help facilitate that transaction and sell their cryptocurrency and make the payment to fäm in fiat currency,” said Mohit Davar, the co-founder of Huobi’s over-the-counter (OTC) trading tesk at DMCC.

Davar continued, stating that the firm will provide fam Properties with liquidity and resources to facilitate virtual money payments for customers. According to reports, Huobi’s OTC desk supports fiat currencies such as UAE dirhams, United States dollars, British pounds and Euros.

Meanwhile, there has been a boom in the real estate market in UAE and more people are now embracing emerging technologies like blockchain and associated digital assets.

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Huobi News

Huobi Joins Turkish Blockchain Platform To Boost Local Ecosystem

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The major cryptocurrency exchange Huobi joins the new Blockchain Turkey Platform with a main aim of cooperating with local players on blockchain efforts. As we can see from the latest Huobi news, five months after entering the Turkish market the exchange joins this new platform as a 'Platinum' member.The announcement from January 15 shows that Huobi is active in the market. Founded by the Turkish Informatics Foundation in 2018, the Blockchain Turkey Platform (BCTR) is an independent, non-profit organization aiming to create a healthy blockchain ecosystem in Turkey. The platform has members from banking and finance as well as venture capital firms, and members from technology and crypto industries.As Huobi joins the Turkish blockchain association, it also becomes the first global exchange to become a member of BCTR, the press release notes. According to the General Manager of Huobi Turkey, Alphan Gogus, they all believe in the importance of maintaining blockchain-driven development together.
"We support BCTRs vision to secure Turkey's regional leadership in a decentralized system," he summarized.
For those of you who haven't been following the blockchain news, it is important to note that Huobi's Turkey efforts began when the company announced the establishment of a local office at the Eurasian Blockchain Summit last October. This was the time when the crypto exchange brought a lot of experts to the event, signalling their desire to support Turkey's blockchain efforts.Gogus also told the media that they are looking forward to cooperating with the Blockchain Turkey Platform via Huobi University. Now that Huobi joins BCTR, we can go back to the exchange's statement at the event which read:
"Huobi supports the growth of crypto and blockchain ecosystems globally. Turkey has the potential to become a pioneer in blockchain technology, both regionally and globally. By joining The Blockchain Turkey Platform, which drives local efforts in a cross-industry approach, we aim to exchange our global expertise and knowledge with key local players to boost the blockchain ecosystem."
BCTR is seen as a union which creates a multidisciplinary environment and enables key players from different industries to speed up the adoption of blockchain in the country.
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Huobi News

Huobi Indonesia Launches Rupiah To Tether (USDT) Trading

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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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Huobi News

Japanese Financial Services Firm Invests In Huobi Japan

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One Japanese financial services firm is in the coming altcoin news for its decision to invest in the Japanese branch of the cryptocurrency exchange Huobi. The firm Tokai Tokyo Financial Holdings is in the focus now for investing around 500 million yen (nearly $4.6 million) in Huobi Japan.A press release officially confirmed this on December 26 and showed that this investment is part of a broader collaboration with Huobi Japan. In that manner, Tokai will acquire shares in the exchange. The Japanese financial services firm did not immediately respond to requests for details regarding the share acquisition but is expected to do that soon.As it stands, Tokai intends to use the partnership with Huobi to promote new businesses in the areas of crypto asset exchange, initial coin offerings, currency issuance and crypto management and storage services.As reports from one financial news website note, the Japanese financial services firm reported a revenue of 57.57 billion Japanese yen ($252.5 million) over the past 12 months.  Today, we can see a report by the firm in the cryptonews showing that the new partnership is part of a wider effort to adopt new and emerging technologies like blockchain as part of its business development plan.Meanwhile, the Japanese arm of the cryptocurrency exchange Huobi previously acquired a majority stake in local cryptocurrency exchange BitTrade in September 2018. The firm changed BitTrade's name to Huobi Japan and continues to facilitate cryptocurrency trading.Also, Huobi Japan is seemingly focusing its business efforts on the far east - it recently ceased the operations of its United States based trading platform. The exchange also explained that the local regulatory environment forced the firm to prohibit Americans from accessing its services.Right now, cryptocurrency exchanges are moving towards partnerships in a bid to expand their scope of operations and diversify their revenue models. Not only the Japanese financial services firm investing in Huobi Japan is the perfect example of this...Recently, we could also see Binance announcing that it partnered with the peer-to-peer crypto trading platform Paxful to sell goods and services and accept more the 167 fiat currencies.The partnership between Tokai Tokyo Financial Holdings and Huobi Japan Holdings will certainly be in the focus in Japan in the upcoming months.
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Huobi US Partner Decides To Close Shop Due To Low Demand

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The Huobi US partner decides to shut down the exchange due to the low demand and liquidity right after December 15. In our blockchain news today, we read more about what this could mean for the crypto market and the altcoin prices.The Huobi US Partner or the HBUS was a platform that was supposed to replace the international service Huobi service for the United States traders which was launched just a month ago. HBUS encouraged all of the US-based traders to transfer from the international exchange just to avoid any sanctions and limitations. This move to create HBUS with the help of the local partner is similar to the decision of Binance to move out of the States. The exchange worked on compliance but could not regain liquidity and interest. In the meantime, Huobi turned into one of the most important powerhouses of crypto trading that mostly answer the demand of Chinese users.HBUS also hinted for a reorganization by closing the doors so it can ‘’return in a more integrated and impactful fashion as part of its ongoing strategic layout.’’ However, the users are urged to withdraw their money before January 31. The decision was much unexpected as HBUS recently celebrated the expansion of the HUSD stablecoin. The token is mostly used on Huobi Global and despite the closure of the US exchange, it will still keep the dollar peg and activity levels.The trading volumes on HBUS dropped to around $220,000 per day and hit a rock-bottom level which is more suitable to a small-scale exchange. HBUS carried only a conservative selection of 56 pairs and some assets were withdrawn from the US traders because of the local security laws. HBUS trading had frozen for most of the smaller altcoins and the exchange did not even have a significant Bitcoin market. The exchange shutdown happened abruptly but it still follows a trend of US-based markets closing. The US exchange closure announcement came only a few days after CryptoBridge put up a shutdown notice hinting a possible restarting in the near future.At the same time, Binance.US carries more than $2.94 million in volumes and about 30 percent of the international Binance volumes came straight from the United States but the new market does not reflect the same level of interest as per the Huobi news.
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