Huobi Indonesia announced the launch of a local fiat gateway to enable a direct fiat-to-crypto trading facility between the Indonesian Rupiah (IDR) and Tether (USDT). The new gateway will allow Indonesian investors to use the local fiat currency to trade over 250 cryptocurrencies available on Huobi Indonesia’s digital asset exchange.
With the highest population and largest economy of any nation in Southeast Asia, Indonesia presents a major opportunity to contribute to the growth of the greater blockchain community and help drive crypto adoption globally. Through the fiat gateway, Huobi will give local customers direct access to large amounts of liquidity available through Huobi Cloud.
“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,” said David Chen, Senior Director of Huobi Cloud. “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.” Earlier in 2019, Huobi announced plans for an Argentine Peso (ARS) fiat gateway with the establishment of Huobi Argentina.
Huobi Cloud’s technology and infrastructure bring transaction liquidity to Huobi Indonesia’s fiat gateway, along with many other benefits to local users like market depth, security, efficiency, and more. By enabling IDR/USDT trading, Huobi Indonesia aims to lower barriers to investor onboarding and “become the largest Indonesian exchange within the next six months,” according to Huobi Indonesia CEO Xiong Dan.
Xiong continued, “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 is a one-stop technical solution provider that enables partners to quickly build secure and stable crypto-to-crypto trading, OTC, operational, and ecosystem solutions on top of six years of proven expertise and infrastructure. Partners can benefit from Huobi Global’s order matching system, asset management, and clearing system. Since the introduction of Huobi Cloud in 2018, the platform has launched over 120 exchanges including Huobi-branded exchange partnerships with local partners: Huobi Russia, Huobi Argentina, Huobi Thailand, and Huobi Indonesia.