Huobi Global acquired Latin American Bitcoin exchange Bitex

The Huobi Global crypto exchange has acquired the Bitex trading platform, which works with users from Argentina, Chile, Paraguay and Uruguay. The terms of the deal were not disclosed, according to 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 Caleb Lim, Senior Investment Manager at Huobi Group.

Founded in 2014, Bitex exchange is one of the oldest cryptocurrency platforms in Latin America.

In May 2018, the Argentine bank Banco Masventas signed an agreement with the Bitex exchange to make cross-border transfers using bitcoin.

In 2019, 37 cities in Argentina were able to pay with digital gold in public transport thanks to the partnership of Bitex and the Alto Viaje transport card replenishment platform.

In the same year, Bantotal entered into a partnership with the Bitex exchange to launch international payments using the first cryptocurrency.

Recall that the largest broker in Brazil XP Inc in cooperation with Nasdaq will launch a platform for trading digital assets XTAGE.