<p>Huobi Argentina, a subsidiary of cryptocurrency exchange Huobi Group, is planning to invest $100 million for creating a blockchain data center.</p> <p>The center would be the largest of its kind, Huobi Argentina <a href="https://www.reuters.com/article/us-argentina-cryptocurrency/argentine-subsidiary-of-huobi-group-announces-plan-for-100-million-data-center-idUSKBN1XG2P5">announced</a> Wednesday, as reported by Reuters.</p> <p>Huobi Argentina platform was first <a href="https://www.theblockcrypto.com/linked/39973/huobi-to-launch-local-exchange-in-argentina">revealed</a> in September as a fiat gateway to buy cryptocurrencies with Argentine pesos. The platform was supposed to go live by mid-October. According to the Reuters report, Huobi Argentina said it will go live by the end of November.</p> <p>Argentina’s <a href="https://www.weforum.org/agenda/2019/10/argentina-economic-crisis-presidential-election/">economy has been suffering</a>, which seems to have helped rising cryptocurrency interest in the country. More cryptocurrency exchanges are planning to enter Argentina - recently <a href="https://www.theblockcrypto.com/post/43176/ripple-coinbase-invest-in-crypto-exchange-bitso-to-help-it-expand-beyond-mexico">Bitso announced</a> its plans to launch a platform in the country, while <a href="https://www.theblockcrypto.com/linked/15183/binance-ceo-confirms-an-upcoming-fiat-to-crypto-exchange-in-argentina">Binance</a> has also hinted about its plans for Argentina.</p> <p>The central bank of Argentina's <a href="https://www.theblockcrypto.com/linked/45009/argentina-further-imposes-capital-controls-sharply-cuts-usd-buying-limits-to-200-a-month">capital control measures</a> could be another reason for growing cryptocurrency interest. The central bank recently put a cap on U.S. dollar (USD) purchases for the second time to “maintain exchange stability and protect reserves.” Individual Argentinians are now<a href="https://www.theblockcrypto.com/linked/45009/argentina-further-imposes-capital-controls-sharply-cuts-usd-buying-limits-to-200-a-month"> limited to</a> USD purchases of $200 per month, a steep cut from the <a href="https://www.theblockcrypto.com/linked/38183/argentina-restricts-us-dollar-purchases-as-its-currency-crisis-escalates">previous</a> $10,000 per-month limit.</p>