Huobi, Major Cryptocurrency Exchange to open in Brazil
Huobi, one of the leading cryptocurrency exchanges in the world is expanding its operations in Brazil. They’ve set up an office in São Paulo and are looking to hire regional staff to manage the exchange. Huobi representatives were also marketing their platform at a cryptocurrency conference in São Paulo, Brazil called VI Bitconf.
Portal do Bitcoin, a local cryptocurrency news outlet reported that representatives from Huobi were handing out business cards at VI Bitconf. They also added that Huobi has set up offices in a space provided by WeWork in São Paulo. The news outlet also reports that the exchange has been contacting “well-known names in the Brazilian market.” They also claim that the exchange will start operations in Brazil by the year end.
Huobi, though hasn’t confirmed any of the above news. But, the Singapore based exchange is reportedly scouting for talent on LinkedIn. They have openings for the post of Chief Compliance Officer and Digital Marketing Manager.
The Chief Compliance Officer will be responsible for monitoring the company’s operations and identifying irregularities and illicit activities. The Digital Marketing Manager on the other hand, will work towards developing the Huobi’s brand in Brazil.
Huobi is at present the third largest cryptocurrency exchange in the world. According to CoinMarketCap, the exchange has processed a trading volume of $1.1 Billion in the last 24 hours. Huobi’s exchange in Brazil will increase the competition in the country’s cryptocurrency market. Brazil’s largest cryptocurrency exchange, Foxbit lost 58 BTC earlier this year during a hack. Huobi might face fierce competition from XP Investimentos, Brazil’s biggest investment firm which is launching a cryptocurrency exchange in Brazil.
The Singapore based exchange seems to be expanding all across the globe. Earlier in the year, Huobi has set up operations in both Canada and San Francisco, USA. They have also set up offices in London, Great Britain.
Image via Huobi.
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