Huobi Plans to Expand in Latin America

Huobi plans to expand in Latin America. In this context, Huobi announced its partnership with Latamex.

Huobi Global, one of the world's leading cryptocurrency exchanges, announced its partnership with Latamex in order to be effective in the Latin American market, to buy and sell cryptocurrencies with fiat currency. In this context, users in Argentina, Brazil and Mexico can use Huobi's Fast Buy/Sell service to buy Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and EOS directly with Argentine peso (ARS) and Brazilian real (BRL). This announcement comes as Huobi expands its services in Latin America, where blockchain technology and cryptocurrencies are on the rise. According to a recent report, nearly four out of ten (37%) people in Latin America and the Caribbean said they plan to use cryptocurrencies within the next year. While the rise of internet banking and fintech technology has reduced the number of adults without a bank account globally, large numbers of people, most of them in Latin America, do not have access to financial services. Huobi, which wants to make this situation easier, aims to pave the way for investors with its new initiative. Making a statement on the subject, Huobi global strategy director Jeff Mei says: “Approximately 600 million people live in Latin America and most of them are already familiar with the world of blockchain and cryptocurrency. Therefore, we have decided to expand our presence in this region. This step is part of our efforts to expand our services to meet people's needs.” Mei also adds that their aim is to bridge the gap between fiat and cryptocurrencies for investors in the region to create the fastest and most efficient fiat-to-crypto trading experience possible. Latamex offers local compliance processes by adjusting the infrastructure to work in full compliance with local laws and regulations.