Huobi Indonesia will launch a regional fiat gateway with the aim to enable a straightforward facility for fiat-to-crypto trading between Indonesian Rupiah (IDR) and Tether (USDT).
The announcement was made он 27 December and the gateway will let investors from Indonesia to trade Rupiahs for more than 250 cryptocurrencies offered as part of the digital asset exchange Huobi Indonesia.
Huobi Indonesia has over 50,000 registered users and 5,000 of them are actively trading every day.
Indonesia is the country with the largest population and economy in Southeast Asia and is definitely an important milestone for global crypto adoption and growth of the blockchain community. Indonesian users will be able to access huge amounts of liquidity directly via Huobi Cloud’s fiat gateway.
Huobi Cloud’s Senior Director, David Chen shared the future intentions of the exchange:
“The new fiat gateway is part of Huobi’s global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets across the globe. By continuing to add new fiat/crypto pairs for Huobi Cloud 2.0, we want to make it frictionless for investors anywhere in the world to trade digital assets on a trusted and proven platform.”
In September 2019, Huobi published its intentions to organize an Argentine Peso (ARS) fiat gateway when Huobi Argentina got launched.
The technology behind Huobi Cloud brings huge benefits to the upcoming fiat gateway such as transaction liquidity, security, market depth and efficiency. According to Xiong Dan – Huobi Indonesia CEO, allowing IDR/USDT will lessen the onboarding steps for investors and Huobi will “become the largest Indonesian exchange within the next six months”.
Xiong also added:
“The Indonesian Rupiah fiat gateway is an exciting milestone for the Huobi Indonesia team. We will continue to expand the Indonesian market, consolidate and improve service quality, fulfill market commitments, and accelerate the development of local businesses.”
Huobi Cloud allows users to quickly create stable and secure crypto-to-crypto trading, operational, ecosystem and OTC solutions in one place. Other benefits include Huobi Global’s order matching system, clearing system and asset management, all that on top of six years of expertise and infrastructure.
Since Huobi Cloud started operations in 2018, more than 120 exchanges have been launched, including local partners like Huobi Thailand, Huobi Indonesia, Huobi Russia and Huobi Argentina.