Crypto Exchange Huobi Announces Support For AUD, GBP And EUR Via Banxa

Announcements, News | October 19, 2020 By:

Cryptocurrency exchange Huobi Global has integrated with fiat-to-crypto gateway solution Banxa, enabling the exchange to support the Australian dollar (AUD), British pound sterling (GPB), and Euro (EUR).

Huobi is a blockchain and cryptocurrency infrastructure provider with a financial product suite that includes the largest digital asset exchange by liquidity and real-trading volume. Operating in over 170 countries, the Huobi platform is dedicated to improving the freedom of money for users, and features a portfolio of crypto products and offerings, including: trading and finance, cryptocurrency finance infrastructure solutions, education, data and research, social welfare, investment and incubation, among others.

Banxa is a global digital asset payment company, providing the world’s leading cryptocurrency exchanges and wallets a suite of global and local payment solutions as well as regulatory compliance and anti-fraud systems through one single API integration. Banxa is regulated with offices in Australia and The Netherlands and recently closed pre-IPO funding round in the lead up to a listing on the Toronto Stock Exchange (TSX), making it the first listed crypto payment service provider helping consumers access digital payments and assets.

The integration allows Huobi users in Australia, UK, and the European Union to purchase cryptocurrencies with their official fiat currencies. Users can access the new fiat-to-crypto gateway directly from the Huobi OTC site and deposit AUD, GBP, or EUR to begin trading cryptocurrencies in just a few clicks. Funds can be instantly added to a user’s account using bank transfers, debit/credit card, and other preferred payment methods with zero fees.

From the ‘Buy Crypto’ page on Huobi OTC, users can select the digital asset they’d like to purchase, choose their fiat currency, and enter the fiat value or asset quantity for purchase. After selecting their preferred payment method, which includes Visa and Mastercard transactions, users can purchase up to $20,000 USD worth of digital assets in a single transaction. The daily purchase limit is $15,000 and the monthly purchase limit is $60,000. Users are also required to submit one-time identity verification as part of the transaction process. Once completed and the payment approved, users can access their assets in their exchange account within a few minutes. From there, users can immediately select a trading pair and start crypto-to-crypto trading.

“Our partnership with Banxa allows us to support three of the world’s most widely-used fiat currencies, marking a significant milestone in our global expansion,” said Ciara Sun, Vice President, Global Markets at Huobi Group. “With our newly expanded fiat gateway, we want to help accelerate crypto adoption by making digital assets much more easily accessible to the masses. This integration introduces a new point of access for users in Australia, UK, and the European Union looking to enter the crypto market.”

Domenic Carcosa, founder and Non-Executive Chairman of Banxa, said that Huobi is a first mover heavyweight, with some of the most innovative products and services in the industry.

“As digital assets become mainstream and move toward mass adoption, regulation and transparency are key to building trust. That is why we’ve chosen to partner with Huobi,” Carcosa said.