Crypto Exchange Huobi Confirms Move Into Brazilian Market

Huobi, a major cryptocurrency exchange originally from China, has told CoinDesk that it's setting up shop in Brazil.

AccessTimeIconMay 31, 2018 at 10:36 a.m. UTC
Updated Sep 13, 2021 at 8:00 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

Huobi, a major cryptocurrency exchange originally from China, has told CoinDesk that it's setting up shop in Brazil.

The news first broke Tuesday when a Brazilian cryptocurrency news source reported that executives from Huobi were seen distributing name cards at a local industry event and talking to well-known figures.

The report further suggested that Huobi has set up an office in a co-working space in the country's São Paulo city and is also seeking to hire local staff via LinkedIn, posting staff positions such as chief compliance officer and digital market manager.

In a response to an enquiry from CoinDesk today, a representative from Huobi Group confirmed the company's intent to enter the Brazilian market, but declined to disclose further details.

The effort marks another step in Huobi's plans for global expansion. As previously reported by CoinDesk, following China's crypto trading ban last autumn, the exchange has shifted its business focus overseas – including the relocation of its headquarters to Singapore.

In March, Huobi also registered its U.S. operation as a money services business with the country's financial regulator FinCEN ahead of a planned roll-out of crypto-to-crypto trading. Most recently, another Huobi representative told CoinDesk that the group is also at "an early stage" in the Canadian market.

Brazil image via Shutterstock


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.