A partnership between Huobi Global and Latamex will make it easier for users in Brazil, Argentina and Mexico to buy crypto with fiat.
Huobi Global is the world-leading Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) trading platform, providing secure and convenient trading services for hundreds of digital assets. Latamex is the leading fiat-to-crypto gateway in Latin America, powered by Settle Network.
According to CryptoPotato, the popular cryptocurrency exchange Huobi Global is taking advantage of its competitors’ setbacks to enter new markets. To do this, it aims to establish a partnership with Latamex — Settle Network’s on and off-ramp fiat-to-crypto payment gateway. The exchange also announced a promotion for its clients: during the first month, they will be able to buy crypto with zero fiat fees.
According to Jeff Mei, Huobi’s Director of Global Strategy, this partnership will allow the exchange to enter a market of 600 million potential clients. Latamex guarantees compliance with all KYC and AML requirements in each of the countries. This will allow both the exchange and its customers to be under protection from the regulators.
Pablo Orlando, CEO of Settle Network, believes the partnership will attract new users interested in getting into crypto, with Settle Network serving as a bridge between traditional and digital assets.
Binance and Huobi have been competing for quite some time. The Latin American market has enough potential to attract both companies in their quest to expand. Earlier last year, Binance hired Josh Goodbody, Huobi’s former head of Europe and America. He was made Director of European and Latin American growth and institutional business.
Binance already offers crypto-fiat services to customers in Brazil, Argentina and Mexico, but things haven’t panned out yet. Plus, the company periodically finds itself in hot water.
A few weeks ago, the head of the Brazilian branch resigned after conflicts with the global directors of the exchange, and Binance had to suspend support for futures and derivatives in Brazil after facing strong regulatory pressure.
All this gives Huobi a chance to get ahead in this dog-eat-dog race. The platform intends to learn from other companies’ mistakes. In addition, the partnership with Latamex offers Huobi excellent prospects.
Les propos et opinions exprimés dans cet article n'engagent que leur auteur, et ne doivent pas être considérés comme des conseils en investissement. Effectuez vos propres recherches avant toute décision d'investissement.
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