Huobi.com Launches Fiat-to-Crypto Trading Services

Huobi.com, Huobi’s US partner, announced today that its fiat trading services are now open on the Huobi Marketplace.

Huobi.com is a US cryptocurrency trading platform, operated by a US company named HBUS Holdco, Inc (HBUS). HBUS is a strategic partner of Huobi Global, one of the world's largest crypto asset transaction management services providers.

Starting February 5, Huobi.com supports three USD trade pairs: BTC/USD, ETH/USD and USDT/USD.

At the same time, Huobi.com customers have access to free USD deposits and withdrawals with a $20 fee. Both services have a minimum $100 included, as well as a one to three business days processing time. These services are currently available to US residents only.

HBUS’s partner, Prime Trust, will provide fiat services and the USD wallet.

Prime Trust is a financial institution and chartered trust company from Nevada, USA, which provides custody services for fiat and crypto asset-based transactions. Before opening a US dollar wallet and gaining the ability to trade fiat, customers must complete the KYC process through Huobi.com and open an account at Prime Trust.

According to the Top 100 Cryptocurrency Exchanges ranking by adjusted trade volume ranking on CoinMarketCap, Huobi Global ranked 19th as of 6:00 pm EST. Transaction volume over the past 24 hours decreased by 12.25% to around $229 mm. Meanwhile, the largest crypto trading platform by daily volume, Binance increased by 35.41% to $786 mm.

Image source: Twitter
Author: Nicole Wei
Disclosure: I don't hold any bitcoin and other cryptocurrencies.

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