Huobi launches its crypto exchange in Argentina.
Huobi Global announced in a press release on its blog, the launch of its crypto exchange in Argentina.
Huobi Argentina will create a local team and a crypto exchange accepting the national currency the Argentina Pesos to offer trading in Peso and cryptocurrency.
Users can currently buy crypto-currencies with the peso via Huobi’s OTC service.
Huobi Argentina will soon launch the fiat crypto exchange which is expected to be launched in mid-October this year, said Huobi, which was founded in China but headquartered in Singapore.
Argentineans will be able to purchase crypto-currencies via credit card, bank transfer and some of the most widely supported digital payment providers in the region such as Mercadopago.
As we have seen in several articles like for the first Bitcoin ATM in Venezuela or the article about Cuba and Bitcoin, countries affected by economic crisis and the loss of confidence in their national currency are seeing the population turning to alternative currencies like Bitcoin or other cryptocurrency!
“Argentina is the most promising market in South America for the development of block chains,” said Carlos Banfi, general manager of Huobi Argentina.
“There is already a general consensus to break with the local currency and banks.
With the entry of Huobi on the Argentinian market, it is an excellent opportunity to make progress on the adoption of blockchain and crypto in Argentina,” he added.
A few months ago, Huobi’s founder and CEO, Leon Li, met with Argentina officials to discuss the role blockchain and cryptocurrency could play in Argentina’s economic development.
It seems that his meeting paid off with the opening of this crypto exchange in Argentina.
Binance had also declared its intention to open a crypto exchange in Argentina, countries in difficulty are prime destinations for cryptocurrencies and crypto exchanges that see it as a source of growth and promising development.
The future launch of Libra also targets countries like India or Africa and people without bank account or facing economic difficulties in their country like Venezuela and Argentina.
