Huobi Argentina’s Fiat Gateway Goes Live with Support for Bitcoin and Tether

New trading pairs allow Huobi Argentina users to directly exchange Argentine Peso (ARS) for BTC and USDT, and vice versa.

Huobi Group today announced that Huobi Argentine digital asset exchange now supports fiat-to-crypto pairing between the Argentine Peso (ARS) and both Bitcoin (BTC) and Tether (USDT). The new feature will make it easier for Argentine users to trade between their local fiat currency and the world’s most popular cryptocurrency, as well as the most widely-adopted stablecoin.

Powered and supported by Huobi Cloud, Huobi Argentina is a local exchange for the Argentine market that launched late last year in response to the country’s growing demand for crypto. According to a Statista survey, 16% of Argentinians have used or owned cryptocurrencies, making Argentina one of the countries with the highest crypto adoption per capita.

Since the exchange’s launch, Huobi Argentina has quickly scaled operations with a local team, established its trading facilities, and started onboarding users. The new pairing feature allows users to easily exchange ARS for BTC or USDT, and vice versa, without any intermediaries or third-party platforms. Users can also transfer funds directly to Huobi Argentina from any bank in the country.

“The Argentine market is ripe for crypto adoption but the user experience on most exchanges still leaves a lot to be desired. Trading crypto is often a multi-step process that requires several transactions before the user can begin to trade,” said Ciara Sun, VP of Global Business at Huobi Group. “With the new BTC/ARS and USDT/ARS pairing feature, Huobi Argentine is removing existing user barriers and making it incredibly easy for people to get their assets into the market.”

In the near future, Huobi Argentina will further reduce user friction by enabling the sale and withdrawal of cryptocurrencies settled in fiat regarding time efficiency and will also explore margin trading services at up to 5X leverage to give users more robust investment opportunities.

These upcoming features will provide Argentine users with a range of new options for trading digital assets on the Huobi Argentina exchange and trading platform, which complies with local and global KYC requirements to ensure the highest level of security and transparency on the platform.

Sun added, “Crypto has become both a safe haven for those looking to hedge against currency volatility and a diversified investment strategy for global investors, so Huobi Argentine is committed to improving the user experience with innovative new features that deliver tangible value to our users.”

Huobi Argentina is a strategic local partner of Huobi Group, a global blockchain company with more than a dozen industry-leading blockchain products and services under its umbrella. Huobi Argentina is poised to become the Huobi Group’s main hub in Latin America, with aggressive expansion planned for the next two years.