According to a report by CoinTelegraph on Dec. 28, Huobi Indonesia will open a new trading platform for Indonesia Rupiah (IDR) and Tether (USDT).
The Huobi Group announced through its Web site that the launch of a new trading gateway has made it possible for investors to trade more than 250 cryptocurrency currencies with Rupiah in Indonesia.
Huobi group, Indonesia and cryptocurrency: a bound to happen service
David Chen, senior director of the Huobi Cloud, said support for the Rupiah cryptocurrency transaction service is expected. It is to contribute to the growth of the blockchain community and promote the adoption of global cryptocurrency.
“”The new fiat gateway is part of Huobi’s global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets across the globe […] By continuing to add new fiat/crypto pairs for Huobi Cloud 2.0, we want to make it frictionless for investors anywhere in the world to trade digital assets on a trusted and proven platform.” – David Chen, Senior Director of Cloud, Huobi.
The latest Huobi Global legal money service support in Indonesia is the third service expansion. Previously, it has opened similar service in Argentina and South Korea. It said it plans to expand service support to countries such as Russia and Turkey in 2020.
ndonesia has the world’s fourth-largest population with about 2.6 billion. With GDP ranking 15th in the world with $1.237 trillion as of 2012. Indonesia has seen remarkable growth, continuing to grow nearly 5 percent every year.
Meanwhile Huobi has recently suspended the operation of the U.S.-based trading platform. Apparently focusing on business in the Far East. Huobi explained that the regulatory environment in the U.S. forced the ban of services.
In addition, a growing number of cryptocurrency exchanges are expanding their operations through partnerships and diversifying their profit models. Earlier this month, Binance, a major cryptocurrency exchange, announced that it had partnered with P2P cryptocurrency trading platform Paxful. Together, they goods and services and accept 167 legal currencies.
