Huobi Global, one of the largest exchanges by trading volume, has announced a partnership to make it easier for Latam-based customers to acquire cryptocurrencies. The exchange has partnered with payment services platform Astropay to allow Latam customers to purchase cryptocurrency in fiat currencies from several countries.
Huobi makes it easy to buy crypto on Latam
Huobi aims to make itself more attractive to latam-based customers looking to enter the cryptocurrency market for the first time. The leading crypto exchange recentlyannounced a partnership with Astropay, a payment processing platformthat allows Latam customers to purchase crypto using the fiat currency of the country of their choice.
Customers will have the opportunity to do so in countries such as Brazil, Mexico, Colombia, Chile, Peru, and Uruguay, and will need to use their Astropay wallet to purchase assets. The company has announced that it will accept a variety of payment methods, including credit and debit cards and bank transfers. It will also support region-specific options such as Pix in Brazil and SPEI in Mexico.
The company aims to provide a better experience for its growing number of customers based in the region. In this regard, Lily Zhang, Chief Financial Officer of Huobi Global, said,
Latin America claims a young and vibrant population with enthusiasm for the crypto industry, and we have observed a significant increase in the number of new Huobi Global users from this region.
In addition, Zhang explained that the company’s goal in relocating is to “make buying and trading digital assets a safe, convenient and enjoyable experience for everyone.”
Jumping Through Hoops {36 {This initiative will allow Huobi to compete with local exchanges and peer-to-peer (P2P) vendors, which accepts local payment methods and thus has a user This will give Huobi an edge in user acquisition. In a country like Venezuela, access to international and dollar-based debit cards is difficult, giving strength to markets like Binance P2P, where Venezuelans can obtain crypto with fiat currency. Argentina has also had exchange controls that could affect the availability of foreign currency.
But even with these problems, several latam countries are included in the top 20 list of countries with the most cryptocurrency adoption, according to a recent report issued by Chainalysis. Brazil is listed in seventh place, and countries such as Argentina are also present.
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