Cryptocurrency exchange Huobi has partnered with Latamex to provide users in Brazil, Argentina and Mexico with the ability to buy cryptocurrencies using fiat money.
Settle Network’s Latamex is a payment gateway for Latin American users that also supports cryptocurrencies. More than 600 million people will have access to trading on Huobi and deposits in fiat currencies. At the same time, the cryptocurrency exchange has temporarily disabled commissions for clients from Latin America for deposits in fiat currencies.
“The Latin American market has over 600 million people and we want to give them access to our services. Settle Network will be a key partner for us as we enter this market. Our main goal is to break down the barriers between cryptocurrency and fiat money trading in the region, ”
press release Huobi Director of Global Strategy Jeff Mei.
In addition, the Latamex platform ensures compliance with user identification and anti-money laundering requirements in each country of its presence. Therefore, it will be much easier for Huobi to forge relationships with local regulators.
As a reminder, at the end of June, the Huobi exchange announced that it would stop working with clients from 11 countries and regions due to the regulatory environment. Citizens of the United States, Canada, Hong Kong, Japan, Cuba, Iran, North Korea, Sudan, Syria, Venezuela and Crimea were banned.
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