Huobi Global, a crypto exchange founded in China but now registered in the Republic of Seychelles, is enabling cryptocurrencies to be purchased with fiat currency in Latin America through a partnership with the online payment solution AstroPay.
The exchange, one of the world’s largest by trading volume, now provides a new fiat on-ramp in Brazil, Mexico, Colombia, Chile, Peru and Uruguay, Huobi said in a statement.
“Users in these countries will then be able to purchase and trade through a variety of payment methods including credit and debit cards, bank transfers and local alternative options,” the company added, including the Brazilian government's payment system Pix and Mexico’s system of interbank electronic payments (SPEI).
In May, Huobi Global acquired the Latin American crypto exchange Bitex, which operates in Argentina, Chile, Paraguay and Paraguay, and plans to launch operations in Peru and other undisclosed countries in the region.
Astropay was founded in 2009 by Uruguayans Andrés Bzurovski and Sergio Fogel. It currently has offices in the U.K. and Latin America, offering more than 200 payment methods globally, the firm said in a statement.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.