At launch, Huobi Thailand allows users to purchase BTC, ETH, HT, and USDT with Thai Baht. By enabling direct swaps between Baht and digital assets via a fiat gateway, Huobi Thailand aims to make digital assets more accessible to a wider community of Thai users. Other digital assets such as BCH, BSV, LTC, and XRP will be supported in near future.
“We want to help create an equitable world where wealth is more inclusive and attainable to anyone, anywhere,” said Ciara Sun, VP of Global Business Group.
In addition to fiat-to-crypto trading, Huobi Thailand provides local users with industry-leading security same as Huobi Global, one of the world’s largest digital asset exchanges by trading volume and total cumulative turnover.
Expanding the HT Ecosystem
The launch of Huobi Thailand will also contribute to the growth of the Huobi Token (HT) ecosystem. As the native token of Huobi Global, HT reflects the underlying health of the Huobi ecosystem and recently reached a new 12-month high amid growth in exchange trading volume and increased utility of HT.
Huobi Thailand is the only exchange in the country to enable direct Baht-to-HT trading and will adopt HT as the primary payment method for a digital payments system that is currently in development. The exchange also plans to change its deposits with Thailand’s Securities and Exchange Commission (SEC) from fiat to HT.
Huobi Thailand also plans to launch lending platform using stable coin Thai Baht Digital (TBD), which is a stable token back 1:1 with THB, for smart contract.