The fiat-crypto channel is an USDT/IDR gateway for Indonesian customers to trade over 250 digital assets
JAKARTA, Dec. 27, 2019 /PRNewswire/ — Huobi Indonesia today announced the launch of a local Rupiah Fiat Gateway to enable a direct fiat-to-crypto trading facility between the Indonesian Rupiah (IDR) and Tether (USDT). The new gateway will allow Indonesian investors to use the local fiat currency to trade over 250 cryptocurrencies available on Huobi Indonesia’s digital asset exchange.
With the highest population and largest economy of any nation in Southeast Asia, Indonesia presents a major opportunity to contribute to the growth of the greater blockchain community and help drive crypto adoption globally. Through the fiat gateway, Huobi will give local customers direct access to large amounts of liquidity available through Huobi Cloud.
“The new fiat gateway is part of Huobi’s global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets across the globe,” said David Chen, Senior Director of Huobi Cloud. “By continuing to add new fiat/crypto pairs for Huobi Cloud 2.0, we want to make it frictionless for investors anywhere in the world to trade digital assets on a trusted and proven platform.” Earlier in 2019, Huobi announced plans for an Argentine Peso (ARS) fiat gateway with the establishment of Huobi Argentina.David Chen, Senior Director of Huobi Cloud
Huobi Cloud’s technology and infrastructure bring transaction liquidity to Huobi Indonesia’s fiat gateway, along with many other benefits to local users like market depth, security, efficiency, and more. By enabling IDR/USDT trading, Huobi Indonesia aims to lower barriers to investor onboarding and “become the largest Indonesian exchange within the next six months,” according to Huobi Indonesia CEO Xiong Dan.
Xiong continued, “The Indonesian Rupiah fiat gateway is an exciting milestone for the Huobi Indonesia team. We will continue to expand the Indonesian market, consolidate and improve service quality, fulfill market commitments, and accelerate the development of local businesses.”
Huobi Cloud is a one-stop technical solution provider that enables partners to quickly build secure and stable crypto-to-crypto trading, OTC, operational, and ecosystem solutions on top of six years of proven expertise and infrastructure. Partners can benefit from Huobi Global’s order matching system, asset management, and clearing system. Since the introduction of Huobi Cloud in 2018, the platform has launched over 120 exchanges including Huobi-branded exchange partnerships with local partners: Huobi Russia, Huobi Argentina, Huobi Thailand, and Huobi Indonesia.
About Huobi Indonesia
Huobi Indonesia is a digital asset exchange based in Jakarta, with more than 50,000 registered users, of whom 5,000 are active in daily trading. Huobi Indonesia has an API based on Huobi Cloud technology, which currently offers trading and investment of 100+ digital asset pairs including fiat-crypto trading, crypto-crypto trading. It benefits from the deep liquidity provided by Huobi trading depth.
About Huobi Group
Consisting of numerous upstream and downstream enterprises, Huobi Group is a leading global blockchain company. Established in 2013, the company’s Huobi Global exchange accumulates a turnover that places it among the leading global exchanges. It proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 130+ countries. For more info, visit www.huobi.com
British Virgin Islands Announces Digital Currency
Government, LIFElabs.io to develop BVI~LIFE™, a digital currency for the betterment of the territory.
Tortola, British Virgin Islands – December 3, 2019 – As part of an on-going initiative to grow the Financial Technology sector, the British Virgin Islands is hosting its BVI Digital Economy symposium on December 3rd. The event will connect over 100 stakeholders across private and public sectors such as Price Waterhouse Coopers in the archipelago’s transition to a digital leader. As part of the event, BVI partner LIFELabs.io, will present details of the planned digital currency rollout. Key details are as follows:
- National Currency: Since 1959, BVI has relied on the United States Dollar as its national currency for business and consumption. In partnership with LIFELabs.io, the government is looking to implement a central digital currency powered by LIFEtoken pegged 1:1 against the United States Dollar for use within the territory. It is expected that this transition will reduce transactional fees, increase transaction speed, and be accessible to BVIslanders and tourists alike.
- Rapid Cash Response: Additionally, LIFELabs is developing a Rapid Cash Response™ (RCR) fund to offer aid in the event of a national emergency. In September 2017, Hurricane Irma thrashed through the BVI, causing $3 billion in damages, with untold emotional trauma to BVIslanders and their families. Due to infrastructure damage, people were unable to access their cash to buy everyday essentials. LIFElabs RCR will enable the government to swiftly respond to future disasters, affording islanders unimpeded access to their funds, and thus mitigating the negative impact to their welfare.
- Platform-as-a-Service: LIFElabs Platform-as-a-Service (PaaS) model, which connects blockchain solutions, such as merchant services, peer to peer transactions, and cross-border payments, is available to all businesses in all sectors as a turn-key solution.
A major focus of the one-day symposium is to raise awareness and work with BVI thought-leaders. Premier Andrew Fahie, stated “The importance of blockchain technology and the significant benefits it offers the BVI, are paramount to the Territory. We welcome this innovation with open arms. Our partner, LIFElabs, has demonstrated with their proven track record that their ideology is not just mere words, and we look forward to continuing our partnership with them on the rollout of BVI~LIFE, our digital currency.”
“This partnership puts us in a unique position to make a massive impact in a place that really stands to benefit. The foundation of a digital currency is necessary groundwork for the British Virgin Islands to continue to serve the global economy as it has in the past with the onset of the blockchain revolution.” explained Sanjay Jadhav, LIFELabs.io CEO.
“LIFElabs was conceived with an emphasis on philanthropy, and our work with the British Virgin Islands exemplifies this perfectly. With the Rapid Cash Response fund, we’re creating necessary tools for the government to defend against disaster and protect its citizens from the aftermath.” added LIFELabs’ CMO David Pugh-Jones.
About LIFELabs.io: Founded in 2017, LIFELabs is a blockchain ecosystem with a unique focus on aiding and empowering charities and humanitarian efforts across the globe. In 2018, LIFELabs successfully aided 30 charities taking on innovative projects in pursuit of the charities’ diverse goals and missions. LIFELabs products consist of the LIFEtoken, BVI~LIFE, LIFEcard, LIFEwallet, LIFEBaaS (Blockchain as a Service), and the LIFEPaaS tool for philanthropic groups looking to incorporate blockchain technology.
BVI~LIFE is a trademark of LIFElabs Global LTD.
Photo credit: sergeybrekke on Visualhunt.com / CC BY-NC
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