BUENOS AIRES, Argentina, Sept. 17, 2019 — Huobi Group announces its official launch of Huobi Argentina, a local exchange supported by Huobi Cloud. This marks Huobi’s first initiative into the Argentina market by providing support to Huobi Argentina who has plans to establish a local team, localized operations, and a fiat gateway to trade Argentine Peso (ARS) to crypto.
Along with localized language option and customer support, users of Huobi Argentina will trade with higher liquidity, lower trading fees, and more trading pairs compared to many existing local exchanges. While users can currently purchase cryptocurrencies with Argentine Peso (ARS) via Huobi’s OTC service, Huobi Argentina will soon introduce a fiat gateway, estimated to launch around mid-October of this year. With the Argentine Peso (ARS) gateway, users will be able to easily purchase cryptocurrencies via credit card, wire transfer, and some of the most widely supported digital payment providers in the region such as Mercadopago.
“Argentina is South America’s most promising market for blockchain development. There already exists a general consensus to break from a 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,” said Carlos Banfi, CEO at Huobi Argentina. “The move would likely contribute to boosting the local sentiment and attracting global investment.”
In March of 2019, Huobi Group Founder & CEO Leon Li met with a delegation of senior Argentinian finance officials to discuss the role blockchain could play in Argentina’s economic development. For Argentina, the public’s inherent distrust of banks due to the volatility of its national currency, combined with the Argentinian government’s openness toward blockchain development have been driving the high rate of cryptocurrency adoption.
“The increasing demand for crypto-related products and services makes Argentina a perfect entry point for Huobi to pursue larger projects in promoting cryptocurrency and blockchain to the market,” Said David Chen, Senior Business Director at Huobi Cloud. “With the launch of Huobi Argentina, we will be able to first offer local user the opportunity to trade with Huobi’s proven security, liquidity, and stability.”
Huobi Cloud is a one-stop technical solution provider that enables partners to quickly build secure and stable crypto-to-crypto trading, OTC, operational, and eco-system solutions on top of six years of proven expertise and infrastructure. Partners can benefit from Huobi Global’s order matching system, asset management, and clearing system. Since the introduction of Huobi Cloud in 2018, the platform has launched over 120 exchanges including Huobi-branded exchange partnerships with local partners: Huobi Russia, Huobi Indonesia, Huobi Thailand, and now Huobi Argentina.