Leading Chinese cryptocurrency exchange Huobi Global has acquired Latin American digital asset platform Bitex to strengthen its presence across key emerging markets. The strategic purchase enables Huobi to access Argentina, Chile, Uruguay, and Paraguay—regions demonstrating rapid crypto adoption.
Huobi’s Strategic Move Into Latin America
Huobi Global confirmed the acquisition of Bitex on Thursday, though financial terms remain undisclosed. Founded in 2014, Bitex operates across four Latin American countries with a focus on stablecoins and crypto trading.
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Key details:
- Bitex retains its branding, management team, and operational independence
- Integration grants Bitex users access to Huobi’s liquidity and security frameworks
- Marks Huobi’s second Latin American expansion after launching Huobi Argentina in 2019
Why Latin America?
Jeffrey Ma, Huobi’s Head of Global M&A, highlighted the region’s proactive crypto adoption:
"Latin America’s market growth aligns with our vision. Partnering with Bitex accelerates our ability to serve traders with Huobi’s proven infrastructure."
The collaboration follows Huobi Argentina’s 1,370% growth since 2019, underscoring regional demand.
Bitex’s Role in the Partnership
Francisco Buero, Bitex’s representative, emphasized shared goals:
- Protecting users’ asset value
- Expanding cryptocurrency accessibility
- Leveraging Huobi’s $11.7 billion in assets under management
The exchange ranks #4 globally by trading volume, offering Bitex users enhanced market depth.
FAQ: Huobi’s Latin American Expansion
1. Which countries will Huobi target via Bitex?
Argentina, Chile, Uruguay, and Paraguay—markets with rising crypto adoption.
2. Will Bitex’s operations change under Huobi?
No. Bitex maintains independent branding and management while integrating Huobi’s trading engine.
3. How does this benefit traders?
Users gain access to Huobi’s liquidity, security protocols, and broader asset selection.
4. What’s Huobi’s market position?
Huobi Global is the 4th-largest exchange by volume, with $11.7B in managed assets.
5. Has Huobi operated in Latin America before?
Yes, through Huobi Argentina since 2019, which grew over 1,370% post-launch.
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