Huobi Global has acquired the Bitex trading platform, which serves users in Argentina, Chile, Paraguay and Uruguay. The terms of the deal were not disclosed, the company said in a press release.
“Currently only about half of Latin American users have bank accounts. With this acquisition, Huobi Global hopes to meet the growing demand for alternative financial services,” said Kaleb Lim, Senior Investment Manager at Huobi Group.
Bitex, founded in 2014, is one of the oldest cryptocurrency platforms in Latin America.
In May 2018, Banco Masventas, an Argentinian bank, signed an agreement with Bitex to enable cross-border transfers using Bitcoin.
In 2019, 37 Argentinian cities were able to pay for public transport with digital gold thanks to a Bitex partnership with the transport card top-up platform Alto Viaje.
In the same year, Bantotal partnered with Bitex to launch international payments using the first cryptocurrency.
The largest broker in Brazil, XP Inc., in partnership with Nasdaq will launch a platform for trading digital assets XTAGE.
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