Huobi partners with Banxa to offer support for more fiat currencies

By: Ali Raza
Ali Raza
Ali plays a key role in the cryptocurrency news team. He loves travelling during his spare time and enjoys… read more.
on Oct 19, 2020
  • Crypto exchange Huobi recently teamed up with an international fiat-to-crypto gateway, Banxa.
  • The partnership allowed Huobi to add support for three more fiat currencies — AUD, GBP, and EUR.
  • Users in Australia, the UK, and the EU will now be able to buy coins directly with their local currencies.

One of the world’s biggest crypto exchanges, Huobi, recently revealed a new partnership with an internationally compliant fiat-to-crypto gateway, Banxa. As a result of the collaboration, Huobi will be able to list a number of new fiat currencies to its platform.

Three new fiat currencies for Huobi

According to the exchange’s press release, Huobi’s partnership with Banxa will allow it to add support for three new fiat currencies to its platform. That includes the Australian dollar (AUD), Euro (EUR), and British pound sterling (GBP).

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In other words, Huobi users from the EU, the UK, and Australia will no longer have to use USD to buy crypto. They will be able to do it directly, with their local currencies.

This will bring more flexibility to Huobi’s users, as well as a greater choice when it comes to payment methods.  Of course, all of these currencies can be added via a variety of different methods, such as credit cards, debit cards, bank transfers, and more — all with zero fees.

Officials are pleased with the partnership

Huobi Group’s VP of Global Markets, Ciara Sun, said that the partnership with Banxa will allow Huobi to support three of the most widely-used currencies in the world. This represents a great milestone in Huobi’s own global expansion, Sun concluded.

The move will also help speed up crypto adoption, as digital currencies will become more easily accessible to the users of these currencies.

Banxa’s founder and non-exclusive Chairman, Domenic Carcosa, also commented on the move. He said that Huobi is a first-mover heavyweight, and that its products and services are among the most innovative in the industry. Meanwhile, it is transparent and regulated, which will help drive crypto towards mass adoption, which is also why Banxa chose to partner up with this particular exchange.

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