2 years ago
Quick take:
- Huobi Global has announced the acquisition of Bitex to grow its beingness successful the Latin America portion that continues to clasp crypto.
- Bitex, founded successful 2014, is 1 of the archetypal determination crypto exchanges successful Latin America, providing services successful Argentina, Chile, Paraguay, and Uruguay.
- Huobi volition integrate Bitex operations into its platform, with the second retaining its marque and moving independently.
The globally recognized integer assets level of Huobi Global has announced the acquisition of the crypto speech of Bitex to grow its beingness successful the Latin America region. Bitex is 1 of the archetypal crypto exchanges successful Latin America, having been founded successful 2014, and has an extended idiosyncratic web successful Argentina, Chile, Paraguay, and Uruguay.
Latin America Has a Significantly Higher Crypto Adoption Rate
According to the squad astatine Huobi, the crypto maturation and adoption complaint experienced successful Latin America is 1 of a kind, experiencing a 1,370% emergence betwixt 2019 and 2021. Furthermore, the portion has implicit 665 cardinal residents, with Venezuela and Argentina starring the remainder successful the 2021 planetary crypto adoption scale published by Chainalysis.
Jeffrey Ma, Global Head of M&A astatine Huobi Group, further elaborated connected the region’s value successful crypto adoption done the pursuing statement.
Since Huobi Group archetypal entered the Latin American market, we person seen singular maturation determination and are bullish connected our prospects for the region.
We are pleased to spouse with an established subordinate similar Bitex, arsenic we look to turn our footprint successful Latin America. Our concern volition alteration much users to commercialized with Huobi’s proven security, liquidity, and stability.
Bitex to Be Integrated into Huobi, But to beryllium Run Independently
With the caller acquisition, Huobi Global plants to integrate the crypto speech operations of Bitex into its own, frankincense allowing the latter’s existing customers to entree Huobi’s wide array of integer plus offerings. Once the integration is complete, Bitex volition proceed to beryllium tally independently by its existent absorption squad and clasp its marque identity.
Bitex CEO Francisco Buero went connected to adhd that the caller acquisition volition let the speech to service its customers successful the portion better. He said:
Bitex was founded to support the worth of our users’ money, successful the aftermath of large fiscal crises successful Latin America.
Having grown rapidly aft 8 years of palmy operations, we judge our concern with Huobi Global volition not lone enactment our expansion, but besides assistance america amended service our customers, enabling them to entree a broader scope of integer assets connected Huobi Global’s platform.
Additionally, Huobi Global’s beardown way grounds successful information volition assistance safeguard our important ngo arsenic we proceed to run arsenic a borderless exchange.
English (US) 