Charity division of Huobi cryptocurrency exchange has begun supporting Indonesian government’s efforts in battling against COVID-19.
Huobi Charity will offer assistance in collaboration with the Indonesia-China Association of Economic, Social and cultural Cooperation (ICAESCC) to give financial assistance, in addition to medical kits, while capitalizing on blockchain technology to back healthcare institutions.
To offer instant assistance, Huobi Charity will award approximately $50,000 in Huobi Token (HT) to ICAESCC for the acquisition of medical tools for hospitals.
Ciara Sun, Huobi Group’s vice president of global business stressed that the coronavirus pandemic is affecting “everyone in every corner of the world, regardless of industry, socioeconomic status, or nationality.”
Indonesia, on March 31, locked its borders to tourists after a research by the University of Indonesia cautioned that the country could record 240,000 fatalities by the end of this month, in case adequate measures are not taken.
The research report further stated that different kinds of measures could minimize the death count to between 12,000 and 48,000.
Ciara Sun further stated:
“For the sake of the healthcare workers on the front lines and the millions of lives at risk, we need a concerted effort so we want to invite the broader blockchain and crypto communities to join us in our fight against COVID-19.”
Huobi’s Indonesian office has also created a web portal for making charity payments in fiat and cryptocurrencies to ICAESCC. Huobi Indonesia will join hands with ICAESCC to manage and foster the platform, and disburse medical kits. The website is supported in Chinese, English and Indonesian.
Huobi Charity intends to unveil a comparable program in New York, where confirmed COVID19 cases have crossed 100,000.
Indonesia, the economic powerhouse of Southeast Asia, is the world’s fourth most populous country.
Huobi Indonesia is one among three local subsidiaries run by Huobi Global, along with exchanges focusing on Russia and South Korean markets.
In spite of recording low trading volume comparatively to Russia and Korea, Huobi Charity’s efforts indicate the priority given by the exchange to the Indonesian market.
Huobi Indonesia is currently the second-largest Indonesian exchange in terms of volume. The exchange, listing 29 crypto pairs for trading, records approximately $2.25 million worth trading volume every day.
