In this partnership, Bitfinex and OrionX will work together to develop educational programs in the cryptocurrency field for local universities, while promoting economic freedom and inclusion initiatives in Latin America.

Digital asset trading platform Bitfinex Securities Ltd. announced Strategic partnership with Chilean cryptocurrency exchange OrionX. In the deal, Bitfinex invested in Orion X without disclosing details. The aim is to expand its presence in Latin America and accelerate the adoption of cryptocurrencies in the region.

Bitfinex and Orion X

Bitfinex CTO Paolo Ardoino commented:

“We are excited to work with Orionx as we look to expand our presence across Chile and Latin America. It represents a major step forward in our commitment to empowering the business we share, and we look forward to working even more closely with the Orionx team to support their future growth and development.”

In this partnership, Bitfinex and OrionX will work together to develop educational programs in the cryptocurrency field for local universities, while promoting economic freedom and inclusion efforts in Latin America. For OrionX, this transaction is a great opportunity to leverage Bitfinex’s expertise and network across cryptocurrency trading, staking and lending, adding further benefits to its continued development of innovative and accessible new cryptocurrency services. becomes. OrionX company is now entering new markets and by 2024 he plans to reach 1 million users. I am particularly interested in Peru, Mexico and Colombia.

OrionX co-founder Joel Vainstein said:

“Establishing strategic partnerships with companies like Bitfinex will play an important role in advancing our projects in Latin America. I’m confident.”

“We are confident that their extensive experience and proven product portfolio will drive our own product development and grow our user base, establishing us as a benchmark in the region,” he added. .

For Bitfinex, on the other hand, the partnership will bring in new users and increase its presence in Latin America. Previously, the company was actively involved in introducing Bitcoin in El Salvador. As we reported, Bitfinex has made history in El Salvador, becoming the first fully regulated cryptocurrency trading platform to obtain a digital asset license in the country. This license not only opened access to the global market for SMEs, but also allowed Bitfinex to act as a technology provider for his Volcano Token. As such, Bitfinex has launched a service that allows investors to access new sources of capital and innovative financial products.

Crypto adoption in Latin America

In 2022, Latin America contributed 9.1% of the world’s cryptocurrency value. In the period from July 2021 to June 2022, it will reach $562 billion, marking a 40% year-on-year growth. Additionally, five of the top 30 markets are in Latin America, based on figures provided by the Chainaracy Global Adoption Index. Among them are Brazil (7th), Argentina (13th on the list), Colombia (15th), Ecuador (18th) and Mexico (28th).

Although the numbers show that cryptocurrency adoption is progressing significantly, the region still has problems.First, Latin Americans Limited understanding of the problem. On a scale of 0-5 (5 being the most knowledgeable), they scored just 2.08.. Second, there are challenges posed by governments’ inability to prevent, detect, investigate and prosecute economic crimes that may arise from the introduction of crypto-assets and other upcoming technologies.

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Darya Luz

Darya is a cryptocurrency enthusiast who strongly believes in the future of blockchain. A hospitality expert, she is interested in finding out how blockchain can transform various industries and take our lives to a different level.

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