Huobi launches new fiat-to-crypto subsidiary, Huobi Indonesia

  • Ali Raza
  • 28th December 2019
Huobi launches new fiat-to-crypto subsidiary, Huobi Indonesia
  • Major crypto exchange Huobi has recently announced the launch of its third fiat-to-crypto subsidiary, Huobi Indonesia.
  • The new exchange will allow Indonesian traders an easy way to reach crypto by depositing their IDR.
  • Huobi also hopes to launch additional subsidiaries in 'key markets' in 2020, including Russia and Turkey.

According to Huobi’s Friday announcement, the exchange has just launched its fiat-to-crypto subsidiary in Indonesia. The new exchange — Huobi Indonesia — will offer users to enter into the crypto space through a Rupiah (IDR) and Tether (USDT) trading pair.

In other words, Huobi’s efforts have brought a new and easy way for Indonesians to enter the crypto industry and quickly obtain Tether, which can then be traded for a number of other cryptocurrencies.

Huobi Indonesia: The next step to reaching global expansion

Huobi Cloud’s senior director, David Chen, commented on the move by saying that the new fiat gateway is an important step of the exchange’s global expansion strategy. It shows that the exchange is committed to collaborating with its local partners in key markets around the world.

Furthermore, the exchange will keep adding new fiat/crypto pairs for Huobi Cloud 2.0. That way, it will make it frictionless, and so investors around the world will benefit from using their proven, trusted platform.

Meanwhile, Huobi Indonesia’s position of CEO was filled by Xiong Dan, who said that Indonesian Rupiah is a very exciting milestone for the Huobi Indonesia team. He also noted that the newly launched exchange will keep working on expanding the Indonesian market, improving the quality of service, improve the development of local businesses, and more.

As for Huobi Global, the launch of a fiat gateway in Indonesia marks the creation of its third fiat-to-crypto subsidiary, with the other two being in South Korea and Argentina. The company’s spokesperson also announced that additional subsidiaries are coming and that they will be launched in key markets, including Russia and Turkey.

By Ali Raza
A journalist, with experience in web journalism and marketing. Ali holds a master's degree in finance and enjoys writing about cryptocurrencies and fintech. Ali’s work has been published on a number of cryptocurrency publications. Raza is the co-founder of 5Gist.com, too, a site dedicated to educating people on 5G technology.
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