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.
Huobi Joins Turkish Blockchain Platform To Boost Local Ecosystem
"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.
Huobi Indonesia Launches Rupiah To Tether (USDT) Trading
"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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