Major cryptocurrency exchange Huobi plans to become the first international player to launch trading of Turkey’s Lira by 2020.

Huobi: Lira is 5th Biggest Fiat On-Ramp

In a press release issued on October 18, Huobi said the first step in its expansion into the Turkish market should go live by the end of the year. 

The exchange is seeking to gain a foothold in Turkey, which it identifies as a prospective active market based on data about cryptocurrency ownership.

A dedicated outpost will administer Huobi Turkey, with Turkish language support already live on the website. 

“Turkey is an important region for us, and we plan to bring Huobi’s six years of industry expertise, advanced ecosystem, and a standard of trust to the market, and trigger key conversations around long overdue for a thriving crypto community,” Huobi Global CEO Livio Weng commented.

The first trading pair to launch will be against the lira and stablecoin Tether 00.

The most recent figures from February 2019 suggest that around 20% of Turks own cryptocurrency – the…

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