Huobi.com, the US-based partner of Singaporean cryptocurrency exchange Huobi, is launching a new fiat-crypto trading service. The company announced the new service in a February 5 press release, saying that it will feature initial support for three USD-crypto trading pairs.
The company is managed by HBUS, a strategic partner of Huobi Group, operator of the eponymous crypto exchange. The launch of the new trading pairs is part of a larger expansion plan laid out by Huobi.com. Introducing fiat-crypto trading pairs will help position Huobi.com as a leader among exchanges operating in the US, as many competitors have already launched similar services globally, most notably Binance.
The exchange has launched U.S. dollar (USD) trading pairs with Bitcoin (BTC), Ethereum (ETH) and Tether (USDT), the company said in the release. With the new trading pairs, the company also added support for USD deposits and withdrawals, both with a $100 minimum amount.
The fiat support will reportedly be facilitated via Prime Trust, a US-based chartered trust company that specializes in custodian and escrow services.