Cryptocurrency exchange Huobi is unveiling a fiat gateway in Indonesia, facilitating fiat-to-crypto trading between the Indonesian Rupiah (IDR) and Tether (USDT).
The Huobi Group, in its media release, stated that the roll out of the fiat-currency gateway will enable Indonesian investors to use the IDR to speculate on over 250 cryptos available on the Indonesian subsidiary, Huobi Indonesia.
Senior director of Huobi Cloud David Chen commented:
“The new fiat gateway is part of Huobi’s global expansion strategy and reflects our 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.”
Huobi began operations in Turkey through the use of a localized web and app variants of its crypto trading platform. By the end of 2019, Huobi intends to provide a fiat onramp for the Turkish lira.
Huobi reckons Indonesia as a “major opportunity to contribute to the growth of the greater blockchain community and help drive crypto adoption globally.”
In this regard, Huobi Indonesia CEO Xiong Dan stated that the latest fiat based crypto trading facility is an “exciting milestone” for the Indonesian Huobi staff. Dan further revealed that the company intends to boost its operation in the Indonesian market. Dan said “We will continue to expand the Indonesian market, consolidate and improve service quality.”
Of late, the cryptocurrency exchange successfully identified suitable candidate for the post of general manager for Turkish branch of Huobi. Alphan Gogus, who was given the coveted post, is a veteran in cryptocurrency and financial sector.
At that time, Mohit Davar, regional president of Huobi Group, opined that employing a Turkey based chief is absolutely necessary to establish a significant presence in Turkey. Davar said “Huobi will continue to build their team in Turkey.”
