Huobi Announces Plan To Launch A Fiat Gateway For Turkish Users

At the Eurasia Blockchain Summit Istanbul, Huobi Global declared its ambition to launch a crypto trading platform for Turkish users, which will start with Turkish Lira (TRY) / USDT pairing and which they hope will enable users to exchange more crypto assets with greater liquidity.

According to the press release, Huobi claimed that a fiat gateway of this nature is the first of its kind to be launched by a global exchange. In this regard, it made open the set up of a local team, the option to choose a local language, android app, particularly fixed trading fees of 50% discount, and a well-defined strategy for the users. The platform will grant users the means to deposit fiat currency via wire transfer and exchange for USDT to trade crypto-to-crypto.

Regarding this development, Livio Weng, CEO of Huobi Global has been reported to say that:

"Turkey is an important region for us, and we plan to bring Huobi's six years of industry expertise, advanced ecosystem, and a standard of trust to the market, and trigger key conversations around long overdue for a thriving crypto community."

He also noted that:

"In June, we first announced a series of initiatives to be rolled out in Turkey over the next several months, and we have since fulfilled these promises to the Turkish community."

Mohit Davar, Regional President of Huobi Group, who announced development efforts on the ground during the summit has been reported to say that Huobi will continue to show their commitment to the community which will help to foster the market.

"Beginning with the landmark introduction of TRY/USDT trading, we will continue to demonstrate our deep commitment to the community via localized approaches to grow the market directly from our team in Istanbul," said Davar.

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