Crypto Exchange Huobi To Expand Services To Turkey

News | June 28, 2019 By:

Crypto exchange operator Huobi Group is planning to expand its services to Turkey.

Established in 2013, Huobi Group 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, Huobui said that it will be moving aggressively into the Turkish market over the course of the next 12 months. The expansion plans include a fiat onramp for Turkish Lira, a branch office with local resources in Turkey, and localized products and customer services.

“Turkey is a very important and promising prospective market for us and we plan to take an aggressive approach to bring the Huobi ecosystem there,” said Huobi Global CEO Livio Weng.

Dubai-based Huobi MENA, the Middle East, Africa, and South Asia branch of Huobi Group, will reportedly oversee Huobi’s Turkish market expansion.

“We’ve already added a Turkish language option to the Huobi Global website and will also be rolling out Turkish language customer support and a Turkish language mobile app,” said Mohit Davar, Co-Founder of Huobi MENA. “Other than this, we’ve also launched Huobi Tokens for the Turkish users, which gives them access to Huobi Prime and Fast Track. We also hope to have a crypto-to-fiat onramp for Turkish users by the end of the year.”

Turkey has the highest number of individuals holding cryptocurrencies, according to market research and analysis firm Statistica’s Global Consumer Survey for 2019. The survey showed that 20% of respondents in the country hold bitcoin or other cryptocurrencies.

“That figure definitely matches what we’ve experienced during our time here,” Weng said. “We’ve been blown away by the numbers and passion of the Turkish trading community.”