Huobi Global – a former China-based exchange – expands its continental footprint by purchasing Bitex, a crypto platform that built the first Bitcoin exchange in Latin America. However, both parties did not release any financial details regarding the acquisition.
Huobi Global announced that it had acquired Latin America-based exchange Bitex, but the Asian giant did not disclose details regarding the purchase.
Bitex, founded in 2014, operates in Argentina, Chile, Paraguay, and Uruguay. The company will join Huobi’s
platform, allowing its customers to trade on Huobi’s platform, according to the official release. Meanwhile, Bitex will keep its own branding and management team after the integration.
The release highlighted the move as a critical step in entering the Latin American market since the region – accounting for between 8 – 10% of global crypto activity – has experienced tremendous growth in adopting digital assets in the past years. A study by blockchain analyst fir
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