Fiat-Crypto Trading Service Launched By US-Based Huobi.com

Announcements, News | February 6, 2019 By:

Huobi.com, the US-based strategic partner of Singapore-based crypto exchange Huobi, has launched a new fiat-to-crypto exchange.

Huobi.com, which offers a crypto trading marketplace that supports over 20 trading pairs, was launched last year and is operated by HBUS, a FinCEN-registered Money Service Business (MSB). HBUS.com migrated to Huobi.com last month after Huobi allowed HBUS to use its name in order to support Huobi Group’s ongoing plans for global expansion.

As part of Huobi’s global expansion, Huobi.com will now allow US clients to make USD deposits and withdrawals ($100 USD minimum), and trade against bitcoin (BTC), ethereum (ETH) and Tether (USDT). The company is planning to add more trading pairs in the future depending on customer response.

Fiat services and the USD wallet will be provided by HBUS’s partner Prime Trust, a US financial institution and chartered trust company registered in the state of Nevada that provides custodian and escrow services for fiat money transactions and digital assets. Users will be required to complete the Know-Your-Customer (KYC) identity verification process through Huobi.com and open a custodial account with Prime Trust.

HBUS CEO Frank Fu said that their vision is to provide a comprehensive global platform that serves all the needs of digital asset traders, starting with the US.

“We know that advanced security practices, dedication to US compliance, and quality assets will be key considerations for attracting new retail and institutional customers,” Fu said. “Today marks a major milestone for our team and our customers as fiat-to-crypto trading commences. People new to digital assets can start trading seamlessly on the Huobi Marketplace. We look forward to delivering more innovative financial products and services for our customers this year.”