Starting today, users in Argentina, Brazil and Mexico can buy BTC, ETH, LTC and EOS in their local currency
Hubby Global one of the world’s leading digital asset exchanges, today announced its new partnership with Latamex, Settle Network’s cryptocurrency to fiat currency trading product gateway with focus on Latin America. Starting today, users in Argentina , Brazil and Mexico will be able to use Huobi’s Quick Buy/Sell service to buy bitcoin (BTC), ethereum (ETH), litecoin (LTC) and EOS directly with Argentine pesos (ARS), reais ( BRL) and Mexican pesos (MXN) by bank transfer.
The announcement comes as Huobi is expanding its services in Latin America, where blockchain technology and cryptocurrencies are on a meteoric rise. According to a recent report , about four out of ten people (37%) in Latin America and the Caribbean said they are planning to use cryptocurrencies within the next year.
While the rise of internet banking and fintech technology has helped to reduce the number of unbanked adults worldwide, large numbers of people—many of them in Latin America—do not have access to financial services.
” More than 600 million people live in Latin America, and many of them are already familiar with the world of blockchains and cryptocurrencies.
Therefore, expanding our presence in this region is a natural progression as we expand our services to meet the needs of people in around the world,” said Jeff Mei , director of global strategy at Huobi. “Our goal is to bridge the gap between fiat and cryptocurrencies for traders across the region to create the fastest and most efficient fiat-to-crypto trading experience possible.”
With Latamex you send pesos and you receive your crypto in the wallet or exchange of your choice. With Latamex, you decide which is the best place to store your cryptocurrencies.
Latamex offers local regulatory compliance processes, adjusting the infrastructure to operate in full compliance with local laws and regulations. The company provides customer identification, transaction monitoring and tracking capabilities necessary for fiat-to-crypto operations.
To purchase cryptocurrencies in their local currency, users need to access the Latamex website to complete their orders. From there, they can go to any bank to complete the transfer. After receiving a confirmation email, users will purchase the cryptocurrency assets in their Huobi wallets.
During the company’s first month of service, users in Argentina , Brazil and Mexico will enjoy zero fees on every direct purchase of cryptocurrencies using ARS, BRL and MXN.
