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
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Coinbase agrees to buy The Clearing Company to deepen prediction markets push
The deal brings a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
What to know:
- Coinbase is acquiring The Clearing Company, a startup with experience in prediction markets, to help grow its newly introduced platform.
- The deal brings in a team with specialized experience building event-based trading systems, including veterans from Polymarket and Kalshi.
- The acquisition is part of Coinbase's plan to become an "Everything Exchange", offering a wide range of trading options, including novel cryptocurrencies, perpetual futures contracts, stocks, and prediction markets.
Top Stories
