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Cryptocurrencies

Huobi expands to Turkey

Monday 1 July 2019 | 12:13 PM CET

Huobi exchange has announced it will expand its operations to Turkey, planning to have a crypto-to-fiat onramp for Turkish users by Q4 of 2019.

As Turkey has a promising prospective market, the Singapore-based crypto exchange will be moving to the Turkish market over the next 12 months. Huobi’s new expansion plans include a fiat on-ramp for Turkish lira (TRY), localised products, customer services, and the launch of a branch office in the country.

Moreover, Huobi’s new expansion move has been driven by the popularity of crypto in Turkey. Data from Statistica's Global Consumer Survey for 2019 suggests that 20% of Turkish residents now hold some form of crypto, which is the ‘highest per capita rate of cryptocurrency ownership of all nations surveyed.’

The entrance to the Turkish market will be overseen by official branch of Huobi Group, Huobi Middle East, Africa, and South Asia (Huobi MENA), which is based in Dubai. Huobi MENA platform has already added a Turkish language option to the Huobi Global website, and is planning to launch Turkish language customer support and mobile app soon.

More: Link
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