Bitfinex Invests in Chilean Crypto Exchange OrionX to Expand Presence in Latin America
-
Loading... - Annette Monet
- 07 Jun 2023
- 58 Views
- 0 Like
- 0 Comment
Bitfinex, a prominent cryptocurrency exchange, has made an undisclosed investment in OrionX, a crypto exchange based in Chile. The purpose of this investment is to expand Bitfinex's presence in Latin America, as announced by the company on Tuesday.
OrionX, established in 2017, currently provides crypto exchange and wallet services in Chile. However, they have ambitious plans to extend their operations to Peru, Colombia, and Mexico. By the year 2024, they aim to exceed one million users, as disclosed by Bitfinex.
Paolo Ardoino, the Chief Technology Officer at Bitfinex, expressed his enthusiasm about the collaboration with OrionX. He emphasized the goal of expanding their influence not only in Chile but also throughout Latin America. Ardoino stated, "This partnership marks a significant advancement in our endeavors to leverage the potential of Bitcoin and decentralized technology. Our aim is to promote financial freedom and empower businesses that align with our values."
In 2022, Chilean cryptocurrency exchanges witnessed a substantial increase of up to 50% in stablecoin transactions. This surge can be attributed to the growing interest among residents to safeguard their assets against the country's skyrocketing inflation and the devaluation of the Chilean peso.
