Huobi to launch cryptocurrency in Argentina

A Singapore based cryptocurrency exchange Huobi Group have announced to launch the cryptocurrency exchange in Argentina. Huobi Argentina plans to hire a local team to promote the cryptocurrency trading services which will allow the trading and converting Argentine peso to cryptocurrency, according to the official press-release. 


Fiat gateway 

According to the reports, the services are expected to go live in mid-October. The company introduces the fiat gateway to purchase digital coins with local fiat currency via credit card, wire transfer, and some regional digital payment providers like mercadopago. 

This launch was implemented after the shutdown of renminbi-to-bitcoin trading last year. The Group invested UD$ 1 billion to boost the project. 

“Argentina is South America’s most promising market for blockchain development. There already exists a consensus to break from 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” stated by Carlos Banfi, CEO at Huobi Argentina.

The growing of demand for digital currency makes Argentina a perfect place of Huobi’s global expansion, according to senior business director David Chen.

Recent Posts

Bitcoin is not a good option for criminals, says former CIA Director in a new report

Bitcoin is not really being used in money laundering operations. And considering the fact every transaction is recorded on the…

12 hours ago

“caged bull” Bitcoin breaks into a new all-time high of almost $63,000

Just a day after Bloomberg analyst Mike McGlone called Bitcoin a “caged bull, well rested to escape”, the latter seemed…

15 hours ago

Ripple files motions to dismiss lawsuit as XRP blasts to new three-year high

Just before the weekend, Judge Sarah Netburn ruled that Ripple executives Brad Garlinghouse and Chris Larsen’s did not have to…

16 hours ago

Cardano, more than a hedge against Ethereum?

In a new video on the popular YouTube channel ‘Coin Bureau’, host Guy shares his thoughts on Cardano and the…

18 hours ago

Revolut brings eleven new Crypto assets to its platform

On Thursday, London-based digital payments firm Revolut announced that it had just added eleven new crypto assets to its banking…

1 day ago

Ripple’s XRP is skyrocketing as the team celebrates three wins in a row in its SEC lawsuit

This Friday, U.S. Judge Sarah Netburn granted Ripple’s motion to keep its CEO’s financial records private after the Securities and Exchange Commission…

3 days ago