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Crypto exchange Huobi goes big on Turkish expansion

Huobi.RISE/Flickr

Fri, 28 Jun 2019, 05:34 am UTC

Cryptocurrency exchange operator Huobi Group recently announced that it will be expanding its services to Turkey.

The expansion plans include a fiat onramp for Turkish Lira, the opening of a branch office, and offering localized products and services.

In a recent press release, it was revealed that Huobi has some huge goals in expanding its crypto exchange services to the global market. The most recent target in its sight is Turkey where the company sees a considerable amount of opportunities to capitalize on the nascent industry. Huobi Global CEO Livio Weng said as much and Huobi MENA Co-Founder Mohit Davar concurred.

"Turkey is a very important and promising prospective market for us and we plan to take an aggressive approach to bring the Huobi ecosystem there," Weng said.

"We are really excited with the response we received from the Turkish community. With their support, we successfully pulled off one of the largest crypto events in Turkey. We've already added a Turkish language option to the Huobi Global website and will also be rolling out Turkish language customer support and a Turkish language mobile app. Other than this, we've also launched Huobi Tokens for the Turkish users, which gives them access to Huobi Prime and Fast Track. We also hope to have a crypto-to-fiat onramp for Turkish users by the end of the year," Davar noted.

Cryptocurrency is increasing in popularity in Turkey, Ahval reports, thus explaining Huobi’s interest in the region. In fact, it was noted by the group that over 20 percent of the Asian country’s population is invested in crypto coins. This poses a huge opportunity for expansion for the exchange.

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