Cryptocurrency exchange Huobi acquires a Latin American crypto startup
The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles
Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles
Answer Cryptocurrency exchange Huobi acquires a Latin American crypto startup
Huobi Global has announced the expansion of its continental presence with the purchase of crypto startup Bitex, a cryptocurrency that trades bitcoin in Latin America.
So far, the two parties have not disclosed any financial details regarding the announced acquisition.
Huobi Global has announced that it has acquired Latin American-based Bitcoin trading platform Bitex, but the Asian giant did not disclose details of the purchase and acquisition.
Founded in 2014, Bitex operates in Argentina, Chile, Paraguay and Uruguay.
The company will join Huobi, allowing its customers to trade on the Huobi platform, according to the official statement.
Meanwhile, Bitex will retain its brand management team after the merger.Read:The founder of a crypto project admits to manipulating the price of his project’s currency
slattered Statement Huobi’s media outlet highlighted this move as a crucial step in entering the Latin American market, as the region, which accounts for 8-10% of global crypto activity, has seen a huge growth in digital asset adoption in the past years.
A study by blockchain data analytics firm Chainalysis showed that cryptocurrency usage increased by 1370% from 2019 to 2021.
Caleb Lim, Senior Investment Manager at Huobi Group, commented on the acquisition as a new opportunity to provide financial services to unbanked individuals in the region, adding:
Huobi will add more local currencies to support users’ needs and work with local partners.
Currently, only about half of the Latin American population has bank accounts.
With this acquisition, Huobi Global hopes to satisfy this growing appetite for alternative financial services through blockchain technology.
While Francisco Buero, CEO of Bitex, commented:
The new partnership will facilitate expansion, as users will be able to access a variety of digital assets on the Huobi platform.Read:Why are institutional investors not worried about the price of Bitcoin?
Terra Team Officially Releases Terra 2.0…Details Here
MetaMask announces partnership that will help users recover their stolen cryptocurrency
And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time