Crypto Exchange Huobi Global Enables Cryptocurrency Purchases With Fiat in Latin America

Huobi partnered with AstroPay, a company that offers online payment solutions, to offer the service.

Sep 20, 2022 at 4:58 p.m. UTC

Updated Sep 20, 2022 at 7:09 p.m. UTC

CDCROP: Huobi Global on smartphone (Shutterstock) — (Shutterstock)

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

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Huobi Global, a crypto exchange founded in China but now registered in the Republic of Seychelles, is enabling cryptocurrencies to be purchased with fiat currency in Latin America through a partnership with the online payment solution AstroPay.

The exchange, one of the world’s largest by trading volume, now provides a new fiat on-ramp in Brazil, Mexico, Colombia, Chile, Peru and Uruguay, Huobi said in a statement.

“Users in these countries will then be able to purchase and trade through a variety of payment methods including credit and debit cards, bank transfers and local alternative options,” the company added, including the Brazilian government's payment system Pix and Mexico’s system of interbank electronic payments (SPEI).

With its latest move, Huobi joins other global players that have recently enabled crypto purchases via fiat in Latin America, such as Bybit and MetaMask.

In May, Huobi Global acquired the Latin American crypto exchange Bitex, which operates in Argentina, Chile, Paraguay and Paraguay, and plans to launch operations in Peru and other undisclosed countries in the region.

Astropay was founded in 2009 by Uruguayans Andrés Bzurovski and Sergio Fogel. It currently has offices in the U.K. and Latin America, offering more than 200 payment methods globally, the firm said in a statement.

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