Huobi To Launch Operations in Brazil Amid Rising Interest in Cryptos

Huobi.pro senior managers have been spotted handing out business cards at a crypto event, while the company is already hiring for its Sao Paulo office.

by Nina Dimitrova
31 May • 2 mins
In Markets

Huobi.pro, a major global cryptocurrency exchange, plans to launch operations in Brazil.

According to reports in local crypto news website Portal do Bitcoin, the company is still keeping a low profile, but has already set up offices in Brazil’s largest city Sao Paulo and is hiring. According to publications in the business social network LinkedIn, Huobi is seeking a chief compliance officer and a digital marketing manager.

Senior company officials have also been seen handing out business cards and networking during VI Bitconf – a major cryptocurrency industry event that took place in Sao Paulo earlier in May.

According to unconfirmed information of Portal do Bitcoin, Huobi will launch operations in Brazil later this year.

Huobi.pro is one of the largest cryptocurrency exchanges in the world and consistently ranks in the top 5 by trading volume. It was established in 2013 in China and was among the biggest digital asset trading platforms in the country before the domestic ban on cryptocurrency trading in the autumn of 2017 forced it to move operations.

Huobi.pro is part of the Huobi Global cryptocurrency conglomerate based in Singapore. It also includes a mining pool, an incubator program Huobi Labs, a blockchain-focused investment fund Huobi Capital based in Hong Kong, Huobi Wallet, and HADAX – an autonomous crypto trading platform for professional investors that launched in early April 2018.

Huobi.pro has clients in over 130 countries and major offices in Singapore, the US, Japan, South Korea, and Hong Kong, and plans to expand operations in other locations throughout 2018.

According to a recent publication of Forbes magazine, “Brazilians have discovered cryptocurrency”, so there is nothing strange about Huobi opening an office in Brazil. According to some estimates, in 2016, Brazilians moved USD 160 million in and out of Bitcoin. In 2017, the sum rose by a spectacular 1400% to USD 2.4 billion.

In addition to some of the international crypto exchanges operating in Brazil, there are several local ones as well. The largest one is Mercado Bitcoin, accompanied by Foxbit, Braziliex, Bitcoin to You, BitCambio, FlowBTC.