Huobi, through a partnership with Banxi, is looking to expand its fiat options for its users in the UK, European Union and Australia. The partnership will see Banxi, a leading fiat to digital currency payment services integrated within the Huobi services, allowing its users to buy digital currency using their local currencies.
The partnership will make it easier for users in Australia, the E.U. and the U.K. to buy digital currencies through the Huobi platform without converting their currencies. Over the counter transactions using payment methods available in respective regions will also be expanded, making it easier for fiat to digital currency transactions easier.
Huobi fiat services expansion
Payment options such as credit cards, debit cards, and bank transfers will be available for the Huobi platform users to fund their accounts instantly. Users will also be allowed to purchase a maximum of up to $20,000 worth of digital currencies, which can be purchased using currencies such as the AUD, EUR and GBP.
Users in the UK will be able to use Faster payment, which has significantly reduced the period taken for a bank transaction to be processed, reducing wait time from three business days to just a few seconds. Huobi users from the EU will also be able to use the Single Euro Payments Area (SEPA), which is a faster and cheaper alternative from traditional banking.
Huobi, through this partnership, is positioning itself to continue being one of the largest global leaders in the digital currency exchanges.
The partnership is also expected to see the platform continue its growth, with many anticipating that the latest move will see the platform expand their customer bases in Australia, the EU and the UK.
Banxi has also been making a significant move to position itself as a leading fiat to a digital service provider, which has seen it continue expanding to other regions such as North America, a move that was announced in July 2020.