HBUS, the United States-based partner of Huobi group has introduced fiat-crypto trading services on its cryptocurrency trading platform, Huobi.com. “Users can now buy/sell crypto with US Dollars, and trade against Bitcoin (BTC), Ethereum (ETH), and Tether (USDT),” the exchange announced on its website.
According to the announcement, the feature will support USD trading pairs for Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) and a minimum fiat withdrawal of $100. Users will also have a Prime Trust account with identity verification linked to an HBUS account.
Fiat-Crypto Launch Promotion
To mark the landmark, Huobi_US announced that it had embarked on a special giveaway for the early birds. “During the promotion period, the first 500 newly registered users that successfully open a USD wallet via the “Balances” page will receive 20 USDT,” a statement on the Promotion page read. The promotion which started from 10:00 am Pacific Standard Time (PST) on February 5th will continue until 11:59 pm (PST) on February 19th, 2019.
Since its launch in July of last year, the exchange is in a habit of offering mouth-watering giveaways and promotional packages, often during new listings and other landmark milestones.
In an exclusive interview with Smartereum TV, the General Manager of operations at HBUS, Kenzi Wang, gave a preview of a promotion the exchange planned that will actually pay users for trading on the platform.
The exchange had offered 0.1 BTC to the first 1000 registrants on its platform at the time of its launch. “We quickly blew through the 1000 registration,” Wang recalled.
Only For Houbi_US operated by HBUS
The Crypto-fiat services will be available for only Huobi.com users resident in the United States and not customers of Huobi Group which has its headquarters in Singapore. In an interview with Smartereum, the CEO of HBUS Frank Fu explained that HBUS and its operations are not a subsidiary of the Huobi Group rather a strategic partnership that allows HBUS (and by extension Huobi.com) to use the superior technology of Huobi Group. Huobi Global does not offer fiat services though it lists trading pairs for Tether (USDT) while it plans to release its own stablecoin later in the year.
Binance, another popular crypto exchange that don’t normally offer crypto-fiat services, announced fiat withdrawals for its users in Hong Kong and Uganda in partnership with local payment service providers.