Crypto Exchange Huobi Launches Crypto-Fiat Exchange In Argentina

Announcements, News | September 19, 2019 By:

Cryptocurrency firm Huobi has expanded its services to Argentina with the launch of a local crypto exchange.

Established in 2013, Huobi is a blockchain company, consisting of ten upstream and downstream enterprises. It claims to provide safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in over 130 countries.

In a press release, Huobi announced the official launch of Huobi Argentina, which is supported by Huobi Cloud, a one-stop technical solution provider that enables partners to quickly build secure and stable crypto-to-crypto trading, OTC, operational, and eco-system solutions.

Currently, Huobi Argentina allows users to purchase cryptocurrencies with Argentine Peso (ARS) via Huobi’s OTC service. Later this year, the platform will introduce a fiat gateway that will enable users to easily purchase cryptocurrencies via credit card, wire transfer, and some of the most widely supported digital payment providers in the region, such as Mercadopago.

“Argentina is South America’s most promising market for blockchain development,” said Carlos Banfi, CEO at Huobi Argentina, “There already exists a general consensus to break from a 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. The move would likely contribute to boosting the local sentiment and attracting global investment.”

According to the firm, the cryptocurrency demand in Argentina is driven by the country’s openness to embrace the nascent technology and the need to look for an alternative to alleviate the risks caused by the devaluation of the peso.

“The increasing demand for crypto-related products and services makes Argentina a perfect entry point for Huobi to pursue larger projects in promoting cryptocurrency and blockchain to the market,” Said David Chen, Senior Business Director at Huobi Cloud. “With the launch of Huobi Argentina, we will be able to first offer local user the opportunity to trade with Huobi’s proven security, liquidity, and stability.”