Bitfinex and Chile’s OrionX partner to accelerate crypto adoption in Latin America

Bitfinex and Chile’s OrionX partner to accelerate crypto adoption in Latin America

By Hassan Maishera - min read

Key takeaways

  • Bitfinex has entered a strategic partnership with OrionX.

  • The two companies will work towards accelerating cryptocurrency adoption in Latin America.

  • OrionX is expanding its services to Mexico, Peru, and Colombia. 

Bitfinex announces a strategic partnership with OrionX

Bitfinex, a state-of-the-art digital asset trading platform, announced on Wednesday, May 24th, that it has partnered with the leading Chilean crypto firm Orionx.

According to the press release shared with Coinjournal, the two entities will work together to promote financial freedom and inclusion throughout Latin America.  

While commenting on this latest cryptocurrency news, Paolo Ardoino, CTO at Bitfinex, said

“We’re excited to collaborate with Orionx as we look to expand our presence in Chile and across Latin America. This represents a major step forward in our efforts to harness the power of Bitcoin and decentralised technology to promote financial freedom and empower businesses that share our values. We look forward to working even more closely with the team at Orionx to support its growth and development going forward.”

OrionX has been around since 2017 and has become one of the most promising cryptocurrency projects in Latin America. The company has evolved beyond its origins as a crypto exchange to become the region’s first crypto bank offering users an expansive range of crypto-related services.

OrionX is now preparing to expand its services beyond Chile and enter new markets, including Peru, Mexico, and Colombia. The company expects to surpass a million users by 2024. 

The partnership will allow Bitfinex to expand its presence in Latin America, indirectly reaching millions of users, and supporting common education programs for local universities. Last month, Bitfinex sponsored a coding bootcamp in Paraguay dedicated exclusively to women

OrionX to benefit from Bitfinex’s experience and network

OrionX is set to benefit from Bitfinex’s strong crypto trading expertise and network. Joel Vainstein, the co-founder of Orionx, stated that;

“Having a strategic collaboration with a company like Bitfinex will play a vital role in advancing our project in LATAM. We firmly believe that their involvement will provide a substantial impetus to our capital-raising activities. We are confident that their extensive experience and proven product portfolio will expedite our own product development and user base expansion, positioning us as the benchmark in the region.”

Bitfinex’s interest in Latin America comes as the crypto exchange seeks to increase its presence in the region. The crypto exchange seeks to provide financial services in the underbanked and unbanked regions of the world. 

Bitfinex has played an active role in El Salvador over the past two years. The company is working closely alongside partners such as Mi Primer Bitcoin to promote financial education and support the growth of local businesses.

Last month, Bitfinex Securities El Salvador, a fully-regulated platform for issuing and trading tokenised assets, was granted El Salvador’s first Digital Asset Service Provider licence under the country’s ground-breaking new Digital Assets Law.