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Banking & Finance

Huobi OTC marks entry into Vietnam

Released at: 15:43, 23/08/2018

Huobi OTC marks entry into Vietnam

Photo: Doanh Doanh (VET)

Global user exchange group to support P2P transactions denominated in VND for digital assets.

by Doanh Doanh

Huobi OTC has marked its foray into Vietnam by supporting peer-to-peer (P2P) transactions denominated in Vietnam dong (VND). OTC, which stands for “over-the-counter”, will help onboard new users looking to invest in digital assets by offering a P2P fiat-to-coin marketplace.

Aside from offering a platform for users to freely exchange their VND for digital assets such as USDT, BTC, ETH, and HT, Huobi helps to reduce counterparty risk by requiring merchants place security deposits with the exchange. These deposits will be released to users if the merchant is unable to release the purchased coins in a timely fashion.

As part of its initial efforts to carve out a niche in Vietnam, the Huobi OTC exchange is offering zero transaction fees as opposed to an average fee at other exchanges, which is about 1 per cent. In addition, by leveraging its sister trading platform, Huobi Global, Huobi OTC is able to remove fees such as OTC deposit fees and withdrawal fees.

Huobi OTC supports 17 countries and territories: Singapore, India, Canada, Australia, South Korea, Switzerland, the Netherlands, Taiwan (China), Russia, the UK, Hong Kong (China), Nigeria, Indonesia, the Philippines, Cambodia, China, and Vietnam.

Aside from being cheaper and relatively hassle free, Huobi OTC also provides the same support Huobi is known for: its trusted branding and five-year security and reliability track record, as well as its 24/7 customer support.

Huobi OTC is an affiliate of Huobi Global and a platform devoted to over-the-counter trades of digital assets. It offers an aggregated display of buying or selling data and the actual payment is transferred and completed offline through escrow accounts provided by Huobi OTC.

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