Huobi rolls out crypto-fiat services in Latin America 

Huobi Global, one of the world’s most popular crypto exchanges, recently announced its partnership with Latamex, an on and off-ramp fiat-to-crypto payment gateway. The partnership’s goal is to allow crypto purchases and sales using fiat money in Argentina, Brazil, and Mexico. 

Huobi Global also said that it will allow its customers to purchase cryptocurrencies at zero cost on the first month of the service as long as they use fiat money for the transaction. 

600 million customers

Jeff Mei, Huobi Global’s director of Global Strategy, said that this latest collaboration would allow the crypto exchange to seamlessly enter a market of 600 million potential customers, making the latest partnership one of its best yet. 

“Latin American market holds more than 600 million people and we feel the need to reach them. Settle (Latamex owner) will be a key partner for us in this process of market penetration,” Mei said. 

With the announcement of the new partnership, Latamex highlighted that it will comply with all KYC and AML requirements mandated by governments. In a time of loose policies from crypto exchanges, this is an assurance that customers would have safe and secured transactions inside its platform. 

Looking forward

Settle Network is a settlement network exchange and a cross-border payments service in Latin America. It serves as a secured and efficient virtual bridge between traditional and digital assets. 

Settle Network Chief Executive Officer Pablo Orlando said that he is looking forward to its latest partnership with Huobi Global. He said that the crypto exchange is a perfect partner for Settle as it shares a common vision of providing financial freedom for people in various parts of the world. 

“We provide financial infrastructure in a reliable, frictionless, and compliant way to operate digital assets with domestic fiat money, helping their Latin American users with simple access to cryptocurrencies through our product Latamex,” he said.

Image courtesy of Cointelegraph News/YouTube

Source: https://bitcoinerx.com/blockchain/huobi-rolls-out-crypto-fiat-services-in-latin-america/