Crypto exchange Huobi Global has just bought the trading platform Bitex, which offers its services to users in Argentina, Chile, Paraguay and Uruguay.
It should be noted the press release in which the announcement was made did not include information on the terms of the deal.
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Caleb Lim, senior investment manager at Huobi Group, has said:
"Currently, only about half of Latin American’s population own bank accounts. Through this acquisition, Huobi Global hopes to meet this growing appetite for alternative financial services."
Bitex, which was founded back in 2014, is one of the oldest crypto platforms in Latin America.
In May 2018, Argentine bank Banco Masventas signed an agreement with Bitex to make cross-border transfers using Bitcoin.
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In 2019, 37 cities in Argentina were able to pay with BTC on public transportation thanks to an alliance between Bitex and Alto Viaje, a transportation card recharge platform.