Huobi Partners With Astropay to Facilitate Fiat Payments in Latam – Huobi aims to be more appealing to customers in Latin America who wish to enter the cryptocurrency market for the first time. Recently, the biggest cryptocurrency exchange announced a cooperation with Astropay, a payment processing platform, to enable users in Latam to acquire cryptocurrencies with fiat currencies in certain countries.
Customers will be required to use Astropay’s wallet to purchase the assets, and will be able to do so in countries such as Brazil, Mexico, Colombia, Chile, Peru, and Uruguay. The company announced that multiple payment options, including credit and debit cards, as well as bank transfers, would be supported. Additionally, region-specific options like Pix in Brazil, and SPEI in Mexico, will also be supported.
People Also Read: Crypto Exchange Kraken Backs Enterprise-Grade Liquid Staking Protocol
The company intends to improve the customer experience for the expanding client base in the area. Lily Zhang, chief financial officer of Huobi Global, commented as follows: “Latin America lays claim to a young and vibrant population brimming with enthusiasm for the crypto industry, and we have observed a significant increase in the number of new Huobi Global users from this region.”
In addition, Zhang explained that the company’s intention is to make “the purchase and trading of digital assets a secure, convenient, and enjoyable experience for everyone.” This initiative puts Huobi against local exchanges and P2P (peer-to-peer) services in the region, who have an advantage in user acquisition due to their acceptance of local payment methods.
In countries such as Venezuela, access to international or dollar-based debit cards is difficult, driving the expansion of markets such as Binance P2P, which enables Venezuelans to purchase cryptocurrencies with their fiat currency. Argentina has also implemented exchange regulations that may have impacted foreign currency availability.
Despite these challenges, according to a recent research by Chainalysis, a number of Latin American countries rank among the top 20 in terms of cryptocurrency usage.Brazil is listed at number seven, and countries like Argentina are also present.
READ MORE
US Treasury Seeks Public Comments on Crypto-Related Illicit Finance and National Security Risks
Ukraine to Revise Virtual Assets Law in Line With EU Crypto Rules
