Huobi Thailand (HT), has announced the launch of a localized crypto exchange.
Huobi Thailand (HT) is the Thai arm of popular cryptocurrency exchange Huobi. According to a press release, customers can now trade digital currencies on the localized exchange directly with Thai Baht. The company also disclosed that plans are in place to facilitate merging with Thailand’s payment systems. Although there have been no official agreements yet.
Huobi’s users can now purchase BTC, ETH, Huobi Token (HT), USDT with Thai Baht. With plans to incorporate BCH, BSV, LTC and Ripple’s XRP in the near future. All these digital currencies can be directly swapped with Baht using a fiat gateway.
Speaking on the newly launched exchange, Ciara Sun said that the idea behind the launch is to create a fair world. One where wealth is “inclusive and attainable to anyone, anywhere.” Ciara Sun is the Vice President of Global Business at Huobi Group.
Expanding the HT Ecosystem
Last year Huobi Thailand obtained a Digital Asset License from Thailand’s Ministry of Finance. It also recently received approval from the Security and Exchange Commission, Thailand. Making it possible for the exchange to connect with the country’s payment network. With this, the exchange looks to incorporate its services into Thai’s large network of online banks, ATMs, etc. All these services will be powered by Huobi Token (HT).
Sun disclosed that the country is migrating to a cashless economy. This license will definitely open Huobi to more opportunities in the region.
The exchange further disclosed plans to operate a lending platform with Thai Baht Digital (TBD), a stablecoin. Info about this project is however still very little.
Alongside fiat-to-crypto trading services, Huobi Thailand will also provide users with top-notch security similar to that of Huobi Global.
Thai users aren’t the only beneficiaries of this launch. The exchange will also facilitate the growth and expansion of the Huobi Token (HT) ecosystem. Creating more use cases and also a wider user base for the token. Inadvertently resulting in the expansion of Huobi Global.
About Huobi Group
Launched in 2013 by Leon Li, the exchange boasts of a cumulative turnover amounting to more than $3 trillion. It also currently provides secure exchange services in over 170 countries.
Source: PR Newswire