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Huobi Debuts Fiat-to-Crypto Trading in US

  • Alex Dovbnya
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    Huobi goes beyond crypto-to-crypto trading to secure its place in the sun in the highly competitive industry

Huobi Debuts Fiat-to-Crypto Trading in US
Cover image via u.today
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Huobi.com, a US-based subsidiary of Huobi Global, has just launched USD-to-crypto trading as a result of its partnership with Nevada-based custodian Prime Trust. Hence, Huobi joins a bevy of other exchanges that offer fiat-to-crypto trading.

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New fiat-based trading pairs

The exchange is debuting three new fiat-based trading pairs — BTC/USD, BCH/USD, and USDT/USD. The minimum deposit and withdrawal limit is set at $100. Huobi.com users are required to register with Prime Trust in order to deposit USD to the exchange (completing KYC is required).

Earlier, U.Today shed light on Binance launching its own EUR/GBP fiat-to-crypto exchange in Jersey before recently enabling credit card payments. Hence, Huobi’s expansion beyond crypto-to-crypto trading is seen as a logical step that will help the exchange keep up with competitors.  

More partnerships to follow

According to Prime Trust CEO Scott Purcell, the cooperation between them and Huobi is very exciting. Meanwhile, Huobi CEO Frank Fu reveals that similar deals are already in the pipeline since they want to offer more innovative financial services to their customers including ETFs and derivatives. Fu states that they are determined to present ‘highly regarded’ US products to global audiences in the future.    

As reported, on Feb. 4, Kraken became the first exchange to offer spot and futures trading.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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