Digital asset platform Bitfinex has announced a new partnership with a local Latin American exchange as part of a larger effort to drive wider adoption in the region.
On May 24, Bitfinex announced a new investment in OrionX, one of Chile's leading cryptocurrency exchanges. According to the announcement, the collaboration between the two digital asset firms aims to support local education programs, as well as financial f Reedom and inclusion efforts. This comes Just over a month after Bitfinex Securities El Salvador received a license from the National Digital Assets Commission in El Salvador to issue and trade secondary assets through a platform that complies with local regulations.
The exchange also recently sponsored a three-week boot camp in Paraguay for women to learn basic coding skills. Latin America has been a growing market in the cryptocurrency space over the past year and continues to attract the attention of outside investors. According to the Cha inalysis Global Adoption Index 2022, Latin America will account for 9.1% of the global crypto value in 2022. The region ranks seventh among the largest cryptocurrency markets. The same Chainalysis report also highlighted Latin America as five of the top 30 countries in the index, including Brazil (7), Argentina (13), Colombia (15), Ecuador (18) and Mexico (28).
Back in March, Coinbase announced the expansion of services in Brazil through partnerships with local service agencies, including 24/7 Portuguese-speaking customer support and an easier onboarding process.
In Argentina last month, the local securities regulator approved bitcoin futures index, which is reportedly the first of its kind in Latin America. Also in Argentina, stablecoin issuer Tether entered into a new partnership on May 19 KriptonMarket, an on-ramp platform, w ill support USDT transactions in Argentina's central market.
