Through cooperation between Huobi Global and Settle Networks’ Latamex, customers in Brazil, Argentina, and Mexico will be able to purchase cryptocurrency using money.
Huobi Global, a renowned cryptocurrency exchange, is capitalizing on its competitors’ misfortunes to expand into new areas. The next chess move involves cooperation with Latamex —Settle Network’s on- and off-ramp fiat-to-crypto payment gateway — with the purpose of facilitating cryptocurrency purchases and sells in Argentina, Brazil, and Mexico using fiat money.
Additionally, the exchange announced a promotion for its customers: they will be able to purchase cryptocurrencies with no costs for the first month of the service as long as they utilize fiat money. According to Jeff Mei, Huobi’s Director of Global Strategy, the relationship allows the exchange to penetrate a market with a potential customer base of 600 million.
“Latin American market holds more than 600 million people and we feel the need to reach them. Settle will be a key partner for us in this process of market penetration. Our objective is to bridge this gap between fiat and crypto for traders throughout all the region in a fast and efficient way”
Latamex ensures compliance with all KYC and anti-money laundering regulations in each country in which it operates. This way, both the exchange and its users can be assured of adequate regulatory protection. Pablo Orlando, CEO of Settle Network, shared his enthusiasm as well. According to words released by Latamex, he assured that cooperation such as the one between Latamex and Huobi will be extremely beneficial for new customers looking for simple ways to get started with cryptocurrency.
“We provide the financial infrastructure that enables the operation of digital assets with domestic fiat money in a secure, frictionless, and regulated manner, enabling their Latin American users to easily acquire cryptocurrencies through our product Latamex.” Settle Network, as the name implies, is a settlement network for cross-border payments in Latin America. Its open infrastructure acts as a link between physical and digital assets.
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