Cryptocurrency Exchange Huobi Launches Argentina Trading Platform
Huobi Group on Tuesday announced the launch of its new cryptocurrency exchange in Argentina, Reuters writes.
To service trades on Huobi Argentina, it is planned to form a local team and organize a payment channel that will convert fiat currency to digital. Users can already deposit pesos on the exchange via an OTC payment service, and a dedicated channel will be launched by mid-October. Customers of Huobi Argentina are expected to be able to make deposits using bank cards, transfers and through the payment systems common in the region..
Market participants argue that Argentine residents are increasingly turning to cryptocurrencies amid the crisis that has erupted in the country. Recently, bitcoin here reached a historic high due to inflation of the local currency, writes Reuters.
“Argentina is the most promising blockchain development market in South America,” said Huobi Argentina CEO Carlos Banfi. “The people are striving to break free from dependence on local currency and banks, and Huobi’s arrival in the local market can serve as an excellent opportunity for the spread of blockchain and cryptocurrencies in Argentina.”.
In March, Huobi founder Leon Li met with a delegation of senior officials from Argentina to discuss the role of blockchain in the country’s economy..
Huobi previously announced the liquidation of a separate division in Australia.
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