Share this article
Huobi Indonesia Adds Fiat-to-Crypto Gateway in Bid for Global Expansion
Huobi's local partner in Indonesia got a fiat-to-crypto onramp to facilitate trading in 250 cryptocurrencies.
By Daniel Kuhn
Updated May 9, 2023, 3:05 a.m. Published Dec 30, 2019, 8:00 a.m.
Huobi Indonesia will institute a fiat gateway for trading 250 cryptocurrencies in the country.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Announced Dec. 27 in a press release, the Indonesian wing of Huobi Group looks to facilitate cryptocurrency trading in Southeast Asia’s largest economyhttps://www.cia.gov/library/publications/the-world-factbook/geos/id.html.
According to the firm, Huobi Indonesia boasts 50,000 registered users, of which approximately 10 percent are active in daily trading. Approximately $374,000 was transacted in the most recent available daily data.
With this play, the Jakarta-based firm hopes to gain market dominance in Indonesia, said Xiong Dan, Huobi Indonesia CEO, in the announcement. Crypto exchanges Coinmama, LocalBitcoins, and Luno are frequently cited avenues for purchasing bitcoin in Indonesia.
Huobi's gateway allows users to swap Indonesian Rupiah (IDR) for tether , which can then be traded on the local exchange. Huobi Cloud, a collection of approximately five international partners, will provide liquidity for the gateway.
“The new fiat gateway is part of Huobi’s global expansion strategy and reflects our ongoing commitment to working with strong local partners in key markets across the globe,” said David Chen, senior director of Huobi Cloud, in a statement.
The firm hopes to add fiat-to-crypto gateways in Turkey and Russia in early 2020.
Huobi’s corporate structure reflects its bid for global expansion. Huobi Group is the parent company over a number of entities, including Huobi University, Huobi Research and Huobi Global – the actual cryptocurrency exchange, with approximately 130 international branches.
Based in Singapore, Huobi spreads internationally by operating exchanges directly by acquiring companies or applying for licenses. The firm also enters into partnerships with local affiliates, such as in Indonesia.
Huobi Japan, a part of Huobi Group, announced a $4.6 million in new funding Thursday, by issuing stock to the Tokai Tokyo Financial Holdings (TTFH) through private placement.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
DAWN raises $13M to expand decentralized broadband networks
The decentralized wireless protocol plans U.S. expansion and new international deployments as investors back a user-owned alternative to legacy internet providers.
What to know:
- DAWN raised $13 million in a Series B led by Polychain Capital.
- The protocol enables individuals and organizations to own and monetize wireless broadband infrastructure.
- New funding will support U.S. growth and international rollouts.
Top Stories
