Huobi Argentina, a subsidiary of crypto exchange Huobi Group, has just announced it plans to invest 100 million dollars to create a data center, Reuters reports.
According to the company, this data center will be the largest of its kind in the region.
Huobi Argentina reported in September it plans to create a local team and a gateway to buy and sell cryptocurrencies directly with the Argentine peso. The service, which should have gone live by mid-October, will start operating by the end of this month.
The company has reportedly decided to make this important investment as a result of the country's declining economic situation, which has made Argentine citizens look for alternatives to the Argentine peso.
The increased interest of Argentina's residents in cryptocurrencies has not been ignored by other crypto trading platforms, which are also exploring the possibility of expanding their services to the country. For example, Binance has already said it plans to open a subsidiary in Argentina.
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