Huobi provides support for crypto-fiat operations in Latin America after a new partnership between the company and Settle NEtwork’s Latamex so let’s read more in our latest crypto news today.
The new partnership will make it easier for the users in Mexico, Argentina, and Brazil to buy crypto with fiat as the popular crypto exchange Huobi Global is taking advantage of the competitor’s setbacks to break into the new market. The latest move involves a partnership with Latamex, Settle Network’s on and off-ramp fiat to crypto payments gateway with the final goal to enable purchases and sales of crypto with fiat money in Argentina, Mexico, and Brazil.
The exchange announced a promotion for the customers and it will allow them to purchase cryptocurrencies with zero fees as long as they start using fiat money during the first month of the service. According to the Huobi director of Global Strategy Jeff Mei as a result of the partnership as the exchange entered a market of 600 million potential customers:
“Latin American market holds more than 600 million people and we feel the need to reach them. Settle will be a key partner for us in this process of market penetration. Our objective is to bridge this gap between fiat and crypto for traders throughout all the region in a fast and efficient way”.
Huobi provides support for crypto-fiat operations while Latamex guarantees to comply with all AML and kYC in every country in which it operates. In this way, both the exchange and the users can rest assured that they have proper protection from the regulatory bodies. Pablo Orlando who is the CEO of Settle Network expressed his excitement and on the statements shared by Latamex as he assured that a partnership like the one between Huobi and Latamex will be helpful for the new users who need easy ways to get into crypto:
“We provide financial infrastructure in a reliable, frictionless and compliant way to operate digital assets with domestic fiat money, helping their Latin American users with simple access to cryptocurrencies through our product Latamex”.
As the name implies, Settle Networks is a settlement network exchange and cross-border payment in Latin America and its interoperable infrastructure serves as the bridge between traditional and digital assets. The competition between Huobi and Binance is not new and a market as lucrative as the Latin American one has enough potential to become a focal point for both companies as they are expanding.
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