Major global cryptocurrency exchange Huobi is introducing Russia’s national fiat currency on its trading platform.
According to a Jan. 12 announcement, Huobi Global now supports deposits and withdrawals in the Russian ruble. The new feature enables users to purchase and sell major cryptocurrencies like Bitcoin (BTC), Ether (ETH), Tether (USDT), and Litecoin (LTC) for rubles. Other supported coins include EOS, Bitcoin Cash (BCH), Ethereum Classic (ETC), Bitcoin SV (BSV), DASH, as well as two Huobi-backed tokens like Huobi Token (HT) and Huobi Pool Token (HPT).
To add ruble support, Huobi partnered with AdvCash, a fiat and crypto payment processor. The exchange previously collaborated with AdvCash to introduce ruble-denominated crypto purchases on its over-the-counter desk. AdvCash also provides fiat onramp services to Binance, the world’s largest crypto exchange.
The maximum deposit and withdrawal amounts are capped at 100,000 rubles ($1,350) and 50,000 rubles ($670), respectively. In order to deposit or withdraw rubles on Huobi, users will have to proceed with Know Your