Singapore-based crypto exchange Huobi has announced the launch of its new mobile application, Huobi Lite.
According to the announcement, users will now be able to trade cryptocurrencies on Android and iOS without any fees or commissions.
Huobi Lite 💡is launched!
✔Friendly to newcomers in crypto
👍Secure + easy-to-use
💳0 fees & competitive rates
⚡️instantly exchange between cryptos pic.twitter.com/vg7VFfWITU
— Huobi (@HuobiGlobal) March 10, 2020
The new commission-free crypto trading app supports several fiat currencies. Such as the US Dollar, Vietnamese Dong, Malaysian Ringgit, Hong-Kong Dollar, and Chinese Yuan via various payment methods, including credit cards.
Ciara Sun, VP of Global Business at Huobi Group, at the launch of Huobi lite, explained that the Huobi Lite enables users to get a more straightforward way to trade crypto without sacrificing their trust, performance, and security.
She said, “By reducing the barrier to entry and catering to both beginners and veteran traders, we’re vying for mainstream adoption across the globe, especially in underserved markets like Southeast Asia.”
Key Features of Huobi Lite
Huobi Lite supports BTC, ETH, USDT, HT, EOS, BCH, XRP, LTC, and HUSD. This also serves as a primary portal for users to store, track, and manage their portfolios.
The app now expedites a new user onboarding process, eliminating lengthy KYC requirements. This will create a user experience that allows users to get their first Bitcoin in less than five minutes.
Huobi Lite aimed at Southeast Asian crypto market
Huobi’s global spokesperson has revealed that the new app is mainly aimed at capturing the Southeast Asian market.
The platform, like much other exchange, is currently eyeing the Southeast Asian crypto space. Which they claim is currently underserved by current crypto apps.
Huobi joins the likes of Kraken, Binance, Zedpay, Okex, among others who have declared their intention to penetrate the Asian crypto space.
The spokesperson also pointed out that there are many opportunities up for grab in the Southeast Asia space.
“There aren’t many simple, user-friendly trading apps that cater to new crypto users. Huobi lite is a mobile-first economy, so we saw an opportunity,” the spokesperson said.
Recently, Huobi also announced the news of expansion by launching a localized exchange in Thailand.