Crypto Exchange Huobi Indonesia Launches Rupiah Fiat Gateway

Crypto exchange Huobi Indonesia has launched a local fiat gateway to enable a direct fiat-to-crypto trading facility between the Indonesian Rupiah (IDR) and Tether (USDT).

Based in Jakarta, Huobi Indonesia is a digital asset exchange with more than 50,000 registered users, of whom 5,000 are active in daily trading. The exchange has an API based on Huobi Cloud technology, which currently offers trading and investment of more than 100 cryptocurrency pairs, including fiat-crypto trading, crypto-crypto trading.

The new fiat gateway will reportedly allow Indonesian investors to use the local fiat currency to trade over 250 cryptocurrencies available on Huobi Indonesia’s digital asset exchange. Huobi said that through the gateway, the exchange will give local customers direct access to large amounts of liquidity available through Huobi Cloud, a one-stop technical solution provider that enables partners to quickly build secure and stable crypto-to-crypto trading, OTC, operational, and ecosystem solutions.

David Chen, Senior Director of Huobi Cloud, said that the new fiat gateway is part of Huobi’s global expansion strategy and reflects their 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,” said Chen.

Huobi Indonesia CEO Xiong Dan said that Huobi Cloud’s technology and infrastructure bring transaction liquidity to Huobi Indonesia’s fiat gateway, along with many other benefits to local users like market depth, security, efficiency, and more.

“By enabling IDR/USDT trading, Huobi Indonesia aims to lower barriers to investor onboarding and become the largest Indonesian exchange within the next six months,” said Dan. “The Indonesian Rupiah fiat gateway is an exciting milestone for the Huobi Indonesia team. We will continue to expand the Indonesian market, consolidate and improve service quality, fulfill market commitments, and accelerate the development of local businesses.”