The Huobi Pro exchange house, which is the third largest cryptocurrency exchange house in the world, is interested in exploring a possible expansion of its services to the Brazilian market.
The company confirmed to Coindesk that they are working on the habilitation of a commercial office in Brazilian territory, although they did not give more details or have made an official statement.
However, 6 days ago this house of changes published on LinkedIn two job advertisements for the city of São Paulo . A fact that coincides with the recent appointment of Chris Lee, former director of the exchange house OKEx, as secretary of advice and vice president of global business development of Huobi, who went on to lead the strategy of global acquisitions of this house of changes.
The first job offer is for a Compliance Director ( Chief Compliance Officer ), whose function will be to supervise the operations carried out by this company, identify irregularities and deficiencies, preventing fraud and washing of money, monitor compliance with internal regulations and rules established by local authorities, among other related functions.
And the second offer is for a Digital Marketing Manager ( Digital Marketing Manager ]), which will work to direct the marketing, develop the value proposition, the brand, the strategy and the growth campaign of this company in Brazil. It must also perform other functions, such as working with sales teams to measure results and adjust programs for specific objectives, serve as a link between the company and other marketing agencies, and find ways to simplify work processes.
This important exchange house is trading about 233 cryptocurrencies and has a daily trading volume of $ 1,300 million in 24 hours, according to data from Coinmarketcap.com, which places it as the third largest exchange house in the world.
The possible entry of this house of changes to Brazil would mean a potential increase in the liquidity of the market of the South American country, which is much smaller compared to the total marketing carried out by Huobi. To get an idea, in Brazil an average of 50BTC per week is exchanged in the decentralized platform LocalBitcoin, 1.5 million Brazilian reais or just over 400 thousand dollars. It is estimated that the global cryptocurrency trade in Brazil is about 3.5 million dollars.
Since the operation of cryptocurrency exchanges in China was prohibited in February, several of these have opted to move their operations To the exterior. And Huobi Pro has not been the exception, as they moved their headquarters to Singapore and have continued to expand into new markets so far this year.
At the beginning of May this exchange house started a project to open its doors in Canada. At the end of March, it began operations in South Korea and registered in the Financial Crimes Enforcement Network of the United States (FINCEN), following the necessary steps to open a branch in the North American country.
Featured image by filipetrazao / stock.adobe.com