Huobi Launches New Fiat/Crypto Pair for the Indonesia Rupiah (IDR) Against Tether (USDT)

Huobi Crypto Exchange recently announced that they will introduce a trading pair for the Indonesian Rupiah against Tether (USDT) for this market subsidiary. The fiat gateway will enable Huobi users in Indonesia to trade over 250 cryptocurrencies through a simple IDR Top up and exchange for USDT to purchase other coins. David Chen, Huobi’s Cloud Senior director said,

“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.”

The Huobi Indonesia team is optimistic that the new pair will increase its platform’s activity and eventually the adoption of cryptocurrencies. Xiong Dan, the subsidiary CEO of Huobi Indonesia, termed this milestone as an exciting one given the prospects of market expansion and client service improvements.

It is notable that the IDR/crypto gateway has bumped up the number of Huobi’s Group fiat integrations to three. The exchange now accommodates South Korea, Brazil and Indonesia markets within its fiat gateway option for local currencies.

Huobi’s 2020 Fiat/Crypto Gateway Projects

The exchange plans introduce a local currency top up and trade convenience to even more markets in 2020. Sources within the crypto space point to a possible fiat/crypto launch in Russia and Turkey in the course of next year.

As it stands, Huobi has already appointed an experienced general manager for its Turkish subsidiary to facilitate the Lira/tether gateway. This role will also include building a strong team in Turkey to ensure ongoing projects for a localized app and web run efficiently.