Huboi Announces Decision To Launch P2P Trading In India
The crypto exchange Huboi has reportedly told Indian users about its plans to launch P2P trading platform that will allow them to trade in Rupees. These announcement was made through an email to the users and detailed that users will be entitled to zero transaction fees for trading in cryptocurrencies like Bitcoin core (BTC), Ethereum (ETH), and Tether (USDT).
The exchange noted,
We do think it’s time that we provide a solution of buying/selling digital assets with INR for all Indian users: Huobi OTC – a proprietary peer-to-peer (P2P) platform that allow[s] users and merchants to trade digital assets with your local currencies.
The exchange also said that every registered user can go on the website and trade in INR. Furthermore, customers were advised to transfer to Huboi Global if they want to trade in more cryptocurrencies with higher liquidity.
This announcement was made soon after Huboi sent a questionnaire to its Indian users through email. In another email, it also invited these customers to become Global Merchants. This email read,
After becoming a global merchant of Huobi OTC, you will be entitled to: post-fiat-to-token advertisements to gain more earnings during “Buy & Sell” processes; enjoy zero transaction fee and obtain 24/7 customer support.
This news is still to be announced officially by Huboi. The authenticity of the email has been confirmed as a Huboi spokesperson said that the news is true and the exchange supports INR.
This news comes at a difficult time for the cryptocurrency industry in the country where everything is uncertain and highly volatile as to government regulation and acceptance. Stronger regulatory frameworks are to be made and discussed in September, till then, P2P exchanges are good options for traders wanting to deal in crypto and rupees.
If Huboi is able to execute its promise to Indian users, it will be another move in its expansion across the globe.
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