Recognizing the practical importance of cryptocurrencies in the global economy, Singapore-based Huobi Group, one of the largest crypto platforms in the world, is introducing an exchange in Argentina that will include a fiat-to-crypto cryptocurrency gateway.
Currently, Huobi's OTC crypto service allows users in Argentina to purchase digital assets with Argentine Pesos; however, the fiat-to-crypto gateway will expand accessibility by enabling more buying methods for users.
The move reflects Huobi's broad expansion into regions ready for a crypto transformation.
In June, Huobi announced an expansion into Turkey, a country with close to 20 percent crypto adoption rate.
"Argentina is South America's most promising market for blockchain development. There already exists a general consensus to break from reliance on the local currency and banks, and with Huobi's entrance into the market, it is a great opportunity to move the needle on blockchain and crypto adoption in Argentina."
Huobi isn't the only platform expanding into Argentina.
In March, Binance announced a fiat-to-crypto exchange despite their early announcement, Huobi brought their product to market first.
In Argentina, crypto users are hoping that digital assets can help stave off the drastic implications of more fledgling economies.
As world events continually demonstrate, platforms have to combine these two approaches by offering a simple way for users to translate fiat into crypto.
What's more, platforms like Huobi are preparing to fill the void.
Huobi fiat-to-crypto exchange may address Argentina's inflation problem
Udgivet den Sep 20, 2019
by Cryptoslate | Udgivet den Coinage
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