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Huobi adds fiat to crypto gateway for UK, EU, and Australian markets

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TL;DR

  • Huobi adds fiat to crypto gateway for pounds, Euro, and Australian dollar 
  • Partnered with Banxi for this gateway system

Huobi, a crypto exchange firm based in Singapore, has announced that it has expanded its network to allow more fiat to crypto exchanges.

Huobi made it known that its firm will support other major currencies like the Australian dollar, British Pound, and Euro. This new feature will enable the platform users to use the fiat to crypto gateway without converting the currency, i.e., users in these countries can directly use their country’s fiat currency to buy crypto assets.

This feature was enabled by Huobi’s partnership with Banxi, one of the leading fiat to currency payment systems currently available in the world. 

Through this partnership, users can now easily add funds to their accounts through multiple options like a bank transfer or use a debit or credit card to fund their exchange account.

How the fiat to crypto gateway will work

Huobi and Banxi’s partnership will open a lot of new opportunities and introduce a level of seamless operation that was never seen before in the industry.

The gateway will request its users to carry out a verification process that would be done only once; after then, users will be allowed to pick the crypto asset they would love to buy, select their country’s fiat currency and enter the value of what they want to purchase.

The gateway would allow users to buy crypto’s worth as much as $20,000 in one transaction. However, the daily limit of cryptos that can be purchased is $15,000, and a monthly limit of $60,000.

Huobi made it known that this partnership will help the firm expand globally and aid in the adoption of crypto assets by more people in the world. Not only that, crypto assets will become more easily accessible to everybody in the world.

Huobi also said its addition to the new currencies is also its attempt to break into the western crypto exchange market.

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Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

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