Huobi ventures into the Turkish market

Getting your Trinity Audio player ready...

Huobi, the leading cryptocurrency exchange, announced that it will be expanding into the Turkish market over the next 12 months. Huobi will open a regional office in the country, which will host a local customer care office, onboard the Lira on the Huobi platform and also list Turkish projects on its exchange.

During a Huobi-sponsored meetup in Istanbul, Livio Weng, the CEO of Houbi said, “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.”

Some notable personalities who attended the meeting were Erkan Oz, a digital economy expert and Ismail Hakki Polat, the president of Digital Transformation Association Turkey.

Huobi MENA, the branch that is spearheading operations in the Middle East, Africa, and South Africa, will oversee the expansion of Huobi services in Turkey. Huobi MENA’s co-founder, Mohit Davar, in response to this development said: “We are really excited with the response we receive from the Turkish community. With their support, we successfully pulled off one of the largest crypto events in Turkey.”

Davar added that they had already included a Turkish language option on the Huobi global website. The firm has also launched Huobi Tokens to accommodate Turkish users allowing them to access Huobi services.

In the near future, they plan to roll out Turkish language customer support as well as a Turkish language mobile app. Huobi also promised to have a crypto-to-fiat exchange for its new market before the end of the year.

According to Statistica Global Consumer Survey, a market research and analysis firm, Turkish citizens have recorded the highest per-capita rate of crypto ownership. More than 20% of the country’s population holds cryptocurrency. From the statistics provided by the research firm, one in every five people in Turkey has invested in cryptocurrency. This number is twice that of European and American individual markets.

Huobi’s plan for global expansion has recently seen Weng attend the 2019 Romanian Blockchain Summit on June 21 and 22 .The company is keen to expand its services to Romania.