Huobi Global, the world’s largest cryptocurrency exchange, announced that it has partnered with Astropay to help its Latam customers acquire cryptos. Astropay, an online payment service platform, has joined the exchange to enable customers in Latam purchase cryptocurrency in fiat currency.
Huobi makes Crypto easier to Buy in Latam
Huobi wants to make it more attractive to Latam-based customers that want to join the cryptocurrency market. Astropay is a payment platform that allows customers to buy crypto in fiat currency in certain countries through Huobi, the leading cryptocurrency exchange.
Customers will have to use Astropay’s wallet in order to purchase the assets, having the opportunity to do so in countries like Brazil, Mexico, Colombia, Chile, Peru, and Uruguay. The company stated that a variety of payment methods will be accepted, including bank transfers, credit cards and debit cards. Optional payments that target specific regions, like Pix Brazil or SPEI Mexico will also be accepted.
This company aims to improve the experience of the increasing number of local customers. Huobi Global’s chief financial officer Lily Zhang stated that this is the reason:
Latin America is home to an energetic and young population that loves crypto and has seen a substantial increase in Huobi Global users.
Furthermore, Zhang explained that the goal of the company’s move is to make “the purchase and trading of digital assets a secure, convenient, and enjoyable experience for everyone.”
Jumping Through Hoops
Huobi will now compete with regional exchanges and peer-to-peer (peer to-peer), offers. Huobi has an advantage in terms of acquiring customers due to the acceptance of local payment options. Access to debit cards that are dollar-based or international is not easy in countries such as Venezuela. This makes Binance P2P a viable option, which allows Venezuelans access crypto using their fiat currency. Exchange controls in Argentina have also been implemented that may limit the availability and accessibility of foreign currency.
Chainalysis recently released a report that showed some Latam nation are among 20 countries that have the highest adoption of cryptocurrency. Brazil comes in at number 7, while Argentina is also included.
What do you think about Huobi’s alliance with Astropay to ease fiat-to-crypto transactions in Latam? Leave a comment below.
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