Digital asset exchange Huobi Global is now supporting the Australian dollar (AUD), British pound sterling (GBP), and euro (EUR) through Banxa, an internationally compliant fiat-to-crypto gateway solution.
By integrating with Banxa’s payment solutions, Huobi will be able to provide users with more flexibility and choice in payment methods, while also enabling a seamless user experience. Users can access the new fiat-to-crypto gateway directly from the Huobi OTC site and deposit AUD, GBP, or EUR to begin trading cryptocurrencies in just a few clicks. Funds can be instantly added to a user’s account using bank transfers, debit/credit card, and other preferred payment methods with zero fees.
This partnership allows users in Australia, UK, and the European Union to purchase cryptocurrencies with their official fiat currencies.
“Our partnership with Banxa allows us to support three of the world’s most widely-used fiat currencies, marking a significant milestone in our global expansion,” says Ciara Sun, Vice President, Global Markets at Huobi Group. “With our newly expanded fiat gateway, we want to help accelerate crypto adoption by making digital assets much more easily accessible to the masses.
This integration introduces a new point of access for users in Australia, UK, and the European Union looking to enter the crypto market.”
Domenic Carcosa, founder and Non-Executive Chairman of Banxa, says. “Huobi is a first mover heavyweight, with some of the most innovative products and services in the industry. As digital assets become mainstream and move toward mass adoption, regulation and transparency are key to building trust. That is why we’ve chosen to partner with Huobi.”
From the ‘Buy Crypto’ page on Huobi OTC, users can select the digital asset they’d like to purchase, choose their fiat currency, and enter the fiat value or asset quantity for purchase. After selecting their preferred payment method, which includes Visa and Mastercard transactions, users can purchase up to USD20,000 USD worth of digital assets in a single transaction. The daily purchase limit is USD15,000 and the monthly purchase limit is USD60,000.
Users are also required to submit a one-time identity verification as part of the transaction process. Once completed and the payment approved, users can access their assets in their exchange account within a few minutes. From there, users can immediately select a trading pair and start crypto-to-crypto trading.
Sun says: “As we bolster our global presence and expand into new markets, we will continue adding new fiat on-ramps to give all users a frictionless onboarding experience. We recently set out on an ambitious new goal to empower 100 million households worldwide to own digital assets, so we want to ensure we make it faster, easier, and more secure for new users to get started.”