Huobi Global announced on Thursday that it has acquired Bitex, one of the first regional crypto exchanges in Latin America, as part of its efforts to expand its presence in the rapidly growing region.
While Bitex was established in 2014, the exchange has built an extensive network in Uruguay, Chile, Argentina, and Paraguay.
According to Huobi Global, the integration of Bitex’s exchange operations into Huobi Global’s platform would enable users in Latin America to trade all digital assets available on Huobi Global. However, Bitex will retain its branding and continue operating its business independently run by its current management.
Jeffrey Ma, Global Head of M&A at Huobi Group, talked about the development and said: "Since Huobi Group first entered the Latin American market, we have seen remarkable growth there and are bullish on our prospects for the region. We are pleased to partner with an established player like Bitex, as we look to grow our footprint in Latin America. Our...
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