Huobi Lira Onramp to Enable Crypto Trading for Turkish Users
October 20, 2019
Huobi Lira Onramp to Enable Crypto Trading for Turkish Users
October 20, 2019

Singapore based crypto exchange Huobi will launch a fiat gateway for Turkish lira at the end of the year.

Huobi’s fiat onramp for lira will be the first fiat gateway launched by the global exchange, Huobi Global. It was announced during the opening event at the Eurasia Block Summit on Oct. 18.

Huobi’s Turkish Expansion

The company unveiled details on its expansion to Turkey by stating that it has successfully established a local team with localized language option, a mobile app, an exclusive trading fees as well as a detailed strategy regarding its Turkey expansion.

The launch will enable Turkish users to deposit fiat currency through wire transfer to exchange for major stablecoin Tether (USDT) where it will be then used for trading crypto-to-crypto on Huobi Global.

ALSO READ :  Chinese Government Says Forex Reforms Will Deal With Cryptocurrencies

The users of Huobi in Turkey will be able to trade with a discount of 50% on the transaction fees. It can be further decreased by holding Huobi’s native token Huobi Token (HT).

An on spot discount fees of up to 0.0078% and margin trades for the Turkish professionals’ traders with the All-Star VIP Program.

Turkey- A Crypto-Friendly Nation

The expansion of Huobi in the Turkish market is driven by the increase in the popularity of cryptocurrencies in the country.

Turkey is a country where 20% of the population holds some form of crypto which is the “highest per capita rate of cryptocurrency ownership of all nations surveyed,” the firm said.

The regional president of Huobi Group Mohit Davar stated at the even that Huobi’s Turkish arm will operate in compliance with local regulations

ALSO READ :  Russian Customs Seize Smuggled Crypto Mining Units of Mongolia

Davar said:

“For Huobi, what’s important is to go into a market in a compliant way. […] We talk to the stakeholders to make sure we are working closely with them in a controlled fashion. That’s why we take our time preparing.”

In the mid of September, the Turkish government announced plans to form a national blockchain infrastructure in its public administration.

Source: | Image:


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.