The interest of CryptoCurrency in Brazil has become so high than before. The third largest cryptocurrency exchange by volume, Huobi, is determined to enter the Brazilian market – with local reports indicating that the company has established an office in São Paulo already.
This news of Huobi entering Brazil crypto market appears to be true as Huobi representatives were witnessed handing out business cards during the recent “ Bitconf VI São Paulo” conference. The company has also been in contact with notable figures in Brazil’s cryptocurrency sector and has established an office in the major municipality and Brazilian financial hub of São Paulo, according to reports.
Moreover, the company has been spotted advertising job positions specific to the Brazilian market via LinkedIn . Currently, Huobi is seeking to hire two new staff based in the Sao Paulo area – a Chief Compliance Officer , and a Digital Marketing Manager.
An entrance into Brazil’s cryptocurrency industry on the part of Huobi is expected to comprise a significant event for Brazil’s virtual currency markets – with data from Cryptocompare estimating the combined 24-hour volume trading volume of Brazil’s leading exchange (approximately $3.15 million BRL, or $840,000 USD) to equate to approximately 0.68% of the roughly $122.5 million USD worth of BTC/USDT that was traded on Huobi during the same time period.