by John Smith 
Huobi launches its Crypto-Fiat Trading Platform!
Huobi.com, the North American version of the Singapore cryptocurrency exchange Huobi, will start offering crypto-fiat trading services, initially supporting 3 USD-Crypto trading pairs, according to a press release.
The platform, operated by HBUS, comes after a rebranding campaign and the adoption of the Huobi name and a subsequent migration from HBUS.com to Huobi.com last January 2019.
Also, this expansion beyond crypto-crypto transactions arises at a time when other cryptocurrency exchanges are interested in increasing their support for fiduciary currencies.
On the other hand, banking institutions will also begin to facilitate fiat-crypto conversions, as demonstrated by the Swiss bank Falcon Private Bank.
According to the press release, Huobi.com will have support for trading pairs between US $ and Bitcoin (BTC), Ethereum (ETH) and Tether (USDT), as well as support for deposits and withdrawals in US $, with a minimum of US $100 per operation.
Fiduciary support will be provided through Prime Trust. Thus, Huobi users who want to perform fiat-crypto transactions, must first open an account on the Prime Trust platform and complete identification checks Know-Your-Customer (KYC).
Also, the Huobi Group recently revealed its plans to launch its own stablecoin this year. In October 2018, the platform began to support four stablecoins anchored to the US dollar, as well as an aggregator of solutions for these stablecoins.
In contrast to the rumors of alleged layoffs at the end of December 2018, the consortium continues to seek to expand its operations abroad, reopening its platform in Japan after absorbing BitTrade, a cryptocurrency exchange licensed by the FSA.
It is important to note that Huobi Global currently occupies the 17th position in terms of daily trading volume among cryptocurrency exchange houses, according to information from CoinMarketCap.
Beginning 2019, a lot of negative news have emerged about crypto exchanges closing down like Quadrigacx or being hacked like Cryptopia.
This crypto bear market will certainly take out some main actors on the crypto scene.
With the longest crypto bear market in Bitcoin history, some crypto exchanges like Huobi are expanding, showing growth and smart investing moves like Kraken who just bought a crypto trading company for $100 million: https://bitcoincryptoadvice.com/kraken-acquires-a-crypto-trading-company-for-100-million
