Stars Align for EMOGI Coin amid Huobi Group’s Latin American Push

Cryptocurrency exchange Huobi, which boasts trading volume of roughly $918 million in the last 24 hours, is making an expansion push into Latin America. Huobi revealed that it has gained a foothold in Argentina, where the local economy has been rocked by hyperinflation. The exchange made this move via Huobi Cloud, which is a platform designed to support the building of over-the-counter (OTC) crypto exchanges as a layer on top of Huobi Global.

EMOGI (LOL) not only trades on Huobi but it has already taken the Latin American region by storm, as evidenced by millions of users and more than 70% of active network participants residing in Mexico, Colombia, Brazil, and Argentina.

To start, Argentinians can access Huobi Global using fiat, specifically the Argentina peso, or ARS, via Huobi OTC. Next month, the exchange plans to roll out ARS/crypto trading, which is a groundbreaking opportunity that will let locals buy cryptocurrencies across credit cards, transfers, and Argentinian digital payment providers, as per Cointelegraph.

With Argentina inflation hovering at 4 percent as of August and looking set to rise, this could be a real game-changer for Latin Americans. After taking a breather in the summer months, Argentina’s inflation is once again on the rise and the price increases are expected to persist for the foreseeable future, a situation that has been exacerbated by political unrest. Meanwhile, the bitcoin price is reportedly trading at a steep premium of as much as $1,000 in Argentina.

Huobi Argentina CEO Carlos Banfi describes to Cointelegraph the opportunity that Argentina presents:

“Argentina is South America’s most promising market for blockchain development. There already exists a general consensus to break from a reliance on the local currency and banks, and with Huobi’s entrance into the market, it is a great opportunity to move the needle on blockchain and crypto adoption in Argentina.”

It is a great opportunity for EMOGI coin, as well.

Indeed, the city of San Lorenzo, which is located in Santa Fe, Argentina, has already integrated the Ethereum blockchain into its voting system. The Argentine Federal Blockchain (BFA) platform is designed to deliver transparency to the voting system. Other parts of Argentina, including the Province of Misiones and Marcos Paz Municipality, are pursuing the integration of blockchain technology in areas such as waste management, taxes, and recycling.