Huobi Global seems to be eyeing global expansion. While the entire world was in shackles, Huobi was out and about with its functions. The asset entered new markets and revisited old ones in 2020. Now the crypto platform seems to be onboarding new assets as the demand and popularity of crypto have been on a surge.
Huobi Bolsters Its Presence In Russia
The need for digitalization sprung up amidst the COVID-19 pandemic as everyone was confined to their houses. As the world is taking up digitalization more seriously and has been driving towards the same, crypto platforms are evidently well ahead in the game. As the value of cryptocurrencies has increased, thanks to the ongoing bull run, the interest in the industry has sprouted. In order to address these needs, crypto platforms have been upping their games. Huobi Global joins the list as the platform went on to add support for the Russian ruble.
In order to carry this out, the crypto exchange teamed up with a crypto and fiat payment solutions provider, AdvCash. This partnership will allow those holding the Russian ruble to purchase prominent cryptocurrencies like Bitcoin [BTC], Litecoin [LTC], Tether [USDT], Bitcoin Cash [BCH], Ethereum Classic [ETC], Ethereum [ETH], Bitcoin SV [BSV] and several others. The deposit and withdrawal limits for the fiat currency start from 200 RUB and the maximum limit is 100,000 RUB for deposits and 50,000 RUB for withdrawals.
Explaining the process of transactions via AdvCash, the blog post read,
“The whole process of conducting RUB transactions on Huobi through AdvCash is quite simple and straightforward, requiring users to submit necessary identity details for verification on AdvCash before completion. To fund their account with RUB, users will have to just log into their Huobi Global account, navigate to “Deposit-Exchange” option under “Balances” and select RUB from the list of supported currencies to deposit.”
Verification is an essential process, where KYC would be mandated if it has already not been done. The post further revealed that a total of 0.99% deposits and 2.49% on withdrawal fees would be saved by the users during the promotion period.