Huobi Group Invests $100 Million in Blockchain Data Center

November 7, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

Marko Vidrih
Nov 7 · 2 min read

The crypto company Huobi Group has announced a $100 million investment for the creation of a data center in Argentina.

According to the company, blockchain-related Huobi Argentina’s facility will be the largest of its kind in the region. What exactly it will do, the exchange did not specify.

In September, Huobi Argentina announced plans to create a local team and open a fiat gateway to trade or convert the Argentine peso and cryptocurrencies. According to the latest statement, the possibility of making fiat deposits will be realized before the end of November. It was previously assumed that the crypto-fiat channel will be open in October.

In March it became known that the Argentine authorities expect to involve Huobi in unlocking the possibilities of cryptocurrencies and blockchain in the local economy.

“We hope to strengthen cooperation with the Argentine Ministry of Finance in the future in order to achieve benefits for both sides,” said then the founder of Huobi Group, Leon Li.

Recently, the Central Bank of Argentina announced a ban on the purchase of cryptocurrencies using credit cards for citizens.

Author: Marko Vidrih

ALTCOIN MAGAZINE

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Marko Vidrih

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I love writing, and that is why I do it. A passion for not only providing information but for helping people understand.

ALTCOIN MAGAZINE

The best damn place to read and write about crypto and blockchain.

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