Within the partnership, Bitfinex and OrionX will collaborate to develop education programs in the crypto sector for local universities, as well as promote financial freedom and inclusion efforts in Latin America.
digital asset trading platform Bitfinex Securities Limited Is announced A strategic partnership with Chilean crypto exchange OrionX. Within the deal, Bitfinex has invested in OrionX without disclosing details. It aims to expand its presence in Latin America and accelerate the adoption of crypto in the region.
Bitfinex and Orionex
Bitfinex CTO Paolo Ardoino commented:
“We are excited to partner with Orionx to expand our presence in Chile and throughout Latin America. It will harness the power of bitcoin and decentralized technology to promote financial freedom and empower businesses that share our values.” represents a major step forward in our efforts to harness the power of the Internet. We look forward to working more closely with the team at Orionx to further its growth and development.”
Within the partnership, Bitfinex and OrionX will collaborate to develop education programs in the crypto sector for local universities, as well as promote financial freedom and inclusion efforts in Latin America. For OrionX, this deal is an excellent opportunity to utilize Bitfinex’s expertise and network in crypto trading, staking and lending, and add further benefits to its ongoing development of new innovative and accessible crypto services. The company OrionX now plans to enter new markets and reach one million users by 2024. In particular, it is of interest in Peru, Mexico and Colombia.
Joel Weinstein, co-founder of OrionX, said:
“A strategic collaboration with a company like Bitfinex will be instrumental in driving our project forward in LATAM. We firmly believe that their participation will provide a substantial boost to our capital-raising activities.”
“We are confident that their extensive experience and proven product portfolio will accelerate our own product development and user base expansion, establishing us as the benchmark in this space,” he added.
Meanwhile, for Bitfinex, the partnership will bring in new users, thereby increasing its presence in Latin America. Previously, the company was actively involved in bitcoin adoption by El Salvador. as we have informed ofBitfinex has created history in El Salvador, becoming the first fully regulated crypto trading platform to receive a digital asset license in the country. The license not only opens up access to global markets for small and medium-sized companies, but also allows Bitfinex to act as a technology provider for Volcanic Token. Therefore, Bitfinex began providing services that enable investors to gain access to new sources of funding and innovative financial products.
Crypto Adoption in Latin America
In 2022, Latin America will contribute 9.1% of the global crypto value. For the period between July 2021 and June 2022, it reached $562 billion, registering a 40% increase compared to the same period last year. Furthermore, Latin America accounts for 5 of the top 30 countries in the market, based on numbers provided by the Chainalysis Global Adoption Index. These include Brazil (7th), Argentina (13th on the list), Colombia (15th), Ecuador (18th) and Mexico (28th).
The numbers show significant progress in crypto adoption, but there are still problems in this area. First of all, people in Latin America have a Limited understanding of the matter. On a scale of 0 to 5 (where 5 is maximum knowledge), he scored a mere 2.08., Secondly, there is a challenge due to the government’s inability to prevent, detect, investigate or prosecute economic crimes arising from the adoption of crypto assets and other upcoming technologies.
Daria is a crypto enthusiast who strongly believes in the future of blockchain. Being a hospitality professional, she is interested in finding ways in which blockchain can transform various industries and bring our lives to a different level.
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