Highlights:

You can buy bitcoin, ether, litecoin, and EOS by paying with Argentine, Mexican, and real pesos.

Huobi will not charge commissions in the first month for these trades.

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The Huobi Global cryptocurrency exchange has partnered with Settle Network to enable the purchase of cryptocurrencies with fiat currency in several Latin American countries. So, users in Argentina, Mexico and Brazil can buy bitcoin (BTC), ether (ETH), litecoin (LTC) and EOS (EOS) with their local currency.

According to what was reported by PR Newswire, this new possibility that the Asian company offers to Latin American users it is possible thanks to its alliance with Latamex, a platform owned by cryptocurrency solutions company Settle Network.

Latamex offers the possibility of buying crypto assets by paying with Argentine pesos, Mexican pesos or real (depending on the country of residence) by bank transfer. To do this, Huobi reported that purchases must be made directly on the Latamex platform, but the funds are credited to Huobi’s wallet. In addition, users from the countries mentioned nor they will pay commissions for the purchase of cryptocurrencies in their first month using the platform.

With this methodology, a big barrier that exists in Argentina for the purchase of cryptocurrencies is avoided. As reported by CriptoNoticias, since November 2019 in this country, a credit card cannot be used to acquire this type of digital assets in foreign exchanges, as the currency exchange must be approved by the Central Bank. However, industry players have clarified that this is allowed when both participants in the transaction, the buyer and the seller, reside in the country.

Latamex, Huobi’s partner in Latin America, describes the process of buying cryptocurrency on its website. Source: Latamex.com.

Huobi expands in Latin America

This new step to attract the Latin American public is taken, according to the cited source, by the growth of the cryptocurrency market in the region what Huobi sees. In this sense, Jeff Mei, Director of Global Strategy at Huobi, said that “over 600 million people live in Latin America and many of them are already familiar with blockchain and cryptocurrencies, hence the expansion of our presence is a natural evolution. ”.

On the other hand, the Chinese-origin stock exchange had already announced other good news this year, such as the launch of its new Huobi Prime platform, where premium tokens can be traded, and a huge investment of $ 100 million for the development of DeFi. projects.

Currently, this is considered to be one of the largest exchange houses in the world, with a daily trade volume of around $ 37 billion and 383 listed crypto assets, according to its official website.