Huobi Global Acquires Latin American Crypto Exchange Bitex

The integer currency speech Huobi Global has revealed it has acquired Bitex, a Latin American crypto level that operates successful Argentina, Chile, Paraguay, and Uruguay. Huobi details that the institution is stepping up its beingness successful Latin America arsenic it believes the portion volition beryllium 1 of the astir progressive crypto adoption areas worldwide.

Huobi Aims to Step Up Its Presence successful Latin America, Acquires Local Bitex Exchange

On Thursday, the starring crypto plus speech Huobi Global announced the institution has acquired the Latin American cryptocurrency speech Bitex. According to the announcement sent to Bitcoin.com News, the presumption of the woody betwixt Huobi and Bitex person not been disclosed.

Bitex is an speech that was founded successful 2014 and portion Huobi volition beryllium the genitor company, the trading level volition clasp its existent branding and absorption team. Bitex offers integer currency services to residents located successful Argentina, Uruguay, Paraguay, and Chile.

“Since Huobi Group archetypal entered the Latin American market, we person seen singular maturation determination and are bullish connected our prospects for the region,” Jeffrey Ma, the planetary caput of mergers and acquisitions astatine Huobi Group said successful a statement. “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 Keep Branding and Management, CEO Believes Huobi Will Help Expansion

While Bitex volition support its squad and branding, Huobi volition integrate the company’s level with the Bitex system. The integration volition springiness each Bitex customers entree to the integer currencies offered by Huobi’s Global’s trading engine.

Huobi has been funny successful stepping up its Latin American beingness since 2019, erstwhile it launched Huobi Argentina. The institution notes that from 2019 to 2021, Latin America saw crypto usage emergence by 1,370%.

Today, Huobi Global is the 4th largest speech by crypto commercialized volume, and successful presumption of crypto reserves, Huobi is the 3rd largest with $11.7 cardinal successful assets nether absorption (AUM). Bitex CEO Francisco Buero believes Huobi volition assistance the company’s enlargement efforts.

“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 enlargement but besides assistance america amended service our customers, enabling them to entree a broader scope of integer assets connected Huobi Global’s platform,” Buero elaborate connected Thursday.

What bash you deliberation astir Huobi Global acquiring the Latin American speech Bitex? Let america cognize what you deliberation astir this taxable successful the comments conception below.

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