An Indonesian department of a cryptocurrency exchange Huobi, Huobi Indonesia, will launch a local fiat gateway to allow direct fiat-to-crypto trading between the Indonesian Rupiah (IDR) and Tether (USDT) stablecoin.
According to the official announcement, that was shared with iHodl, the gateway will allow Indonesian investors to use the fiat currency to trade cryptocurrencies on Huobi Indonesia.
Senior Director of Huobi Cloud David Chen says the new fiat gateway is part of Huobi’s global expansion strategy and reflects its 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," Chen added.
Earlier iHodl reported that Binance announced the launch of Latamex, its new fiat gateway for Latin American users.
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