Huobi Partners With Astropay to Facilitate Fiat Payments in Latam

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Huobi Partners With Astropay To Facilitate Fiat Payments In Latam

Huobi , one of the largest exchanges in traded, has announced a partnership to make it easier for its Latam-based customers to acquire digital currencies. The exchange has allied with Astropay, a payment platform, to allow customers in Latam to buy digital currency with fiat currencies in a few .

Huobi to Make Cryptocurrency Easier to Buy in Latam

Huobi is aiming to be more appealing to Latam-based customers who want to enter the digital currency market for the 1st time. The leading has recently announced a partnership with Astropay, a platform, to allow customers in Latam to buy cryptocurrency using fiat currencies in selected countries.

Customers will have to use Astropay’s wallet in order to buy the assets, having the chance to do so in countries like Brazil, Mexico, Colombia, Chile, Peru, and Uruguay. The company informed that several payment methods would be supported, including credit and , and bank transfers. Region-specific options like Pix in Brazil, and SPEI in Mexico, will likewise be supported.

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The company is aiming to offer a better for the growing number of customers based in the area. On this, Lily Zhang, chief financial officer of Huobi Global, stated:

Latin lays claim to a young and vibrant population brimming with enthusiasm for the cryptocurrency , and we have observed a significant increase in the number of new Huobi Global users from this region.

Furthermore, Zhang stated that the goal of the company’s move is to make “the buy and of a secure, convenient, and enjoyable experience for everyone.”

Jumping Through Hoops

This initiative puts Huobi in competition with local exchanges and P2P (peer-to-peer) offers in the region, that have an edge in acquiring users due to their acceptance of local payment options. In countries like Venezuela, access to international or dollar-based debit cards is difficult, powering the reach of markets like Binance Crypto exchange P2P, which allows to acquire cryptocurrency with their fiat currency. Argentina likewise has had exchange controls that might affect the availability of foreign currency.

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Nonetheless, even with these complications, some Latam countries are in the top 20 list of the countries with the highest digital currency adoption, as reported by a recent report announced by Chainalysis. Brazil is listed at number seven, and countries like Argentina are likewise present.

What are your thoughts on Huobi’s alliance with Astropay to ease fiat-to- cryptocurrency transactions in Latam? Let us know in the comments section below.

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