The Huobi Group, one of the largest encryption trading companies in the world, has announced the launch of a digital currency conversion in Argentina. The new platform is expected to be operational in mid-October.
Hobo moves to Argentina as the country’s economy collapses again. The government recently introduced capital controls to try to halt the sharp devaluation of the Argentine peso. Such measures can make Bitcoin and other digital currencies attractive to people who no longer trust central banks.
what is bitcoin
Huobi Execs sees the great potential of cryptography in Argentina
According to an article published today by Reuters, the Huobi group plans to open its cryptocurrency exchange subsidiary in Argentina. The exchange will allow users to deposit local currency, peso and exchange it for bitcoin and other digital assets.
Users were already able to purchase cryptocurrency pesos through the Huobi OTC Exchange Service. However, the introduction of exchange rules will allow Argentinian citizens to acquire digital currencies through various financing methods. This includes credit cards, wire transfers, and digital payment service providers such as Mercadopago, a local service provider.