• Bitfinex has made an undisclosed investment in Chilean crypto exchange OrionX with the aim of expanding its presence in Latin America.
• The exchange offers crypto exchange and wallet services and is planning to expand to Peru, Colombia and Mexico by 2024.
• This investment is part of Bitfinex’s efforts to harness the power of Bitcoin and decentralized technology.
Bitfinex Invests in Chilean Crypto Exchange OrionX
Bitfinex, a leading crypto exchange, has made an undisclosed investment in Chilean crypto exchange OrionX with the aim of expanding its presence in Latin America. This investment is part of Bitfinex’s efforts to harness the power of Bitcoin and decentralized technology to promote financial freedom and empower businesses that share their values.
Founded in 2017, OrionX offers crypto exchange and wallet services in Chile and has plans to expand into Peru, Colombia and Mexico by 2024 with the goal of surpassing one million users by then. In 2022, Chilean crypto exchanges registered a growth up to 50% due to residents‘ interest in protecting their assets from record inflation.
License Granted for Digital Asset Service Providers
In April 2021, Bitfinex was granted El Salvador’s first license for digital asset service providers, allowing them to issue and offer secondary trading of assets.
Interest Growing Among Residents
The recent plunge of the Chilean peso has also increased interest among residents for stablecoins as a way of protecting their assets against inflation. With this new investment from Bitfinex into OrionX, Latin America can expect more opportunities within cryptocurrency usage over time.
This collaboration between Bitfinex and OrionX represents a major step forward for both companies as they strive towards promoting financial freedom throughout Latin America through the use of digital assets such as Bitcoin.