Huobi Targets Western Markets with EUR, GBP, and AUD Support on Huobi OTC
The digital asset exchange Huobi, based in Singapore, is increasing the number of fiat currencies available on its platform. This announcement was made by the company.
The exchange announced Saturday that it will be supporting the Australian dollar (AUD), British pounds sterling (GPB) and the Euro (EUR). This will allow users from Australia, UK and the European Union to buy crypto with their fiat currencies.
Banxa made it possible to add these currencies. The exchange describes Banxa as an internationally compliant fiat to-crypto gateway solution. Users can access the gateway through the Huobi OTC site. The gateway allows them to instantly add funds via bank transfer, debit card or credit card and other preferred methods.
What is the process? The announcement states that users must undergo an identity verification once. Users can then “select the digital assets they wish to purchase, select their fiat currency and enter the asset quantity or fiat value for purchase.”
Users can purchase digital assets worth up to $20,000 USD in one transaction through the gateway. However, there is a daily limit of $15,000 and a monthly limit of $60,000 for each transaction.
[Huobi] Wants to Be the Most Trustworthy and Leading Exchange in the World
Vice President of Global Markets, Ciara Sun at Huobi Group said that the additions of new currencies through Banxa Gateway “marks a significant milestone in global expansion.”
“With our expanded fiat gateway, I want to accelerate crypto adoption by making digital assets more accessible to the masses.” This integration opens up a new access point for users in Australia, the UK, and the European Union who are looking to enter the cryptocurrency market.
Huobi’s latest move to the west is the expansion into English-speaking countries: In an interview with Finance Magnates earlier in the year, Ciara said that although “people know Huobi” as one of the largest brands in the east, that they are “really determined to go global”.
“We continue to work harder to bring a stronger brand in the western market. To go out and talk with media, talk about our partners, talk to our communities, and talk with our users to ensure that they know Huobi and who we are. What our vision is. And what we want to accomplish.”
Sun stated that eventually, “[Huobi] wants to be the most trusted and respected exchange in the world.”
Sun announced the addition of fiat currencies to the market. He said that new fiat currencies were on the horizon. “As we strengthen our global presence and expand into more markets, we will continue to add new fiat on ramps to ensure all users have a frictionless onboarding process.
“We recently set an ambitious new goal of empowering 100 million households worldwide with digital assets. We want to make it easier, faster, and more secure for all users to get started.”