Bitfinex, the digital asset platform, has unveiled a new collaboration with a local exchange OrionX as part of its broader strategy to promote widespread adoption in Latin America.
On May 24, Bitfinex announced its new investment in OrionX, a prominent cryptocurrency exchange in Chile. The partnership between these two digital asset companies aims to foster local educational programs while championing financial freedom and inclusion initiatives.
This development follows Bitfinex Securities El Salvador obtaining an operating license from the National Digital Asset Commission to facilitate the issuance and trading of secondary assets through a compliant platform within El Salvador’s regulatory framework.
Furthermore, Bitfinex recently sponsored a three-week boot camp in Paraguay designed explicitly for women to acquire fundamental coding skills.
Latin America has emerged as a rapidly growing market in the cryptocurrency realm over the past year, attracting substantial attention from external investors. According to the 2022 Chainalysis Global Adoption Index, Latin America accounted for 9.1% of the global value of cryptocurrencies received that year, securing the seventh position as the most prominent cryptocurrency market.
The same Chainalysis report highlighted that Latin America is home to five countries within the top 30 rankings: Brazil (7), Argentina (13), Colombia (15), Ecuador (18), and Mexico (28).
In March, Coinbase announced its expansion of services in Brazil through partnerships with local entities, including round-the-clock customer support in Portuguese and streamlined onboarding processes. Additionally, Argentina’s local securities regulator recently approved a Bitcoin futures index, marking a significant milestone for Latin America.
Another noteworthy development in Argentina is the May 19 partnership between Tether, the stablecoin issuer, and KriptonMarket, an on- and off-ramp platform. This collaboration enables support for USDT transactions at Argentina’s Central Market.
