Huobi Partners With Astropay to Facilitate Fiat Payments in Latam – Exchanges Bitcoin News


Huobi Global, one of the largest exchanges in terms of traded volumes, has announced a partnership to make it easier for its Latam-based customers to acquire cryptocurrencies. The exchange has partnered with Astropay, a payment services platform, to allow customers in Latham to buy cryptocurrency with fiat currencies in several countries.

Huobi Making Crypto Easier to Buy in Latin America

Huobi aims to be more attractive to Latin-based customers who want to enter the cryptocurrency market for the first time. The main crypto exchange recently announced partnership with Astropay, a payment processing platform, to allow customers in Latam to buy crypto using fiat currencies in selected countries.

Customers will have to use the Astropay wallet to purchase the assets, having the opportunity to do so in countries such as Brazil, Mexico, Colombia, Chile, Peru and Uruguay. The company informed that various payment methods will be supported, including credit and debit cards, and bank transfers. Region-specific options such as Pix in Brazil, and SPEI in Mexico, will also be supported.

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

Latin America requires a young and vibrant population full of 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 goal of the company’s move is to make “the purchase and trading of digital assets a safe, 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, which have an advantage in acquiring users due to their acceptance of local payment options. In countries like Venezuela, access to international or dollar-denominated debit cards is difficult, powering the reach of marketplaces like Binance P2P, which allows Venezuelans to acquire crypto with their fiat currency. Argentina also had exchange controls that could affect the availability of foreign currency.

However, even with these problems, some Latin American nations are in the top 20 list of the countries with the highest adoption of cryptocurrency, according to a recent report published by Chainalysis. Brazil is listed at number seven, and countries such as Argentina are also present.

Tags in this story

astropay, Brazil, Chainalysis, Chile, Colombia, Cryptocurrency, Fiat payments, Huobi Global, latamo, Lily Zhang, Mexico, Peru, Uruguay

What do you think about Huobi’s alliance with Astropay to facilitate fiat-to-crypto transactions in Latam? Tell us in the comments section below.

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Sergio Goshenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price spike occurred during December 2017. Having a computer engineering background, living in Venezuela, and being affected by the cryptocurrency boom at a social level, he offers a different point of view. about crypto success and how it helps the unbanked and underserved.

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