Crypto Exchange Market Huobi Adds Banxa Support For Australia

Friday 16 October 2020, 7:00 AM AEST - 1 week ago

Yesterday, the crypto exchange platform Huobi integrated the fiat-to-crypto payment service Banxa to its trading platform with zero fees and integrated it into the payment system for customers from Australia, the UK, and the European Union.

The announcement came in the wake of the partnership formed with digital banking infrastructure provider Banxa – a company with headquarters in Melbourne and Amsterdam.

Huobi has been a mid-range player on the crypto exchange market ever since it opened in 2013. Although the company is from Singapore, the Huobi main offices were originally located in Beijing, as the company focused mostly on the Chinese market.

With the implementation of POLi for Aussie customers, SEPA for the EU, and the Faster Payments service for the UK, Huobi hopes to use the momentum to expand its business in the USA with a better payment system next July.

No Fees For Buying Crypto

Offering a total of 305 crypto assets – including its own proprietary asset Huobi Token – Huobi makes a point of offering all the major cryptocurrencies, and then some. The trading platform also offers crypto saving products. The interest rates received on Bitcoin and USDT savings accounts are considerably more profitable than those offered by many traditional banks.

Users from Australia and Europe can now purchase up to AUD 28.265 in AUD, GBP, or EUR to begin trading. Funds can be added to a user’s account using bank transfers, debit or credit cards, as well as other common payment methods with zero fees.

After passing the one-time KYC (Know Your Customer) verification – which requires customers to upload a picture of their passport, ID card, or driver’s license – Aussie customers are free to trade on the platform with the third-largest trading volume worldwide.