Crypto adoption in Latin America will get an additional boost with the recent partnership between Bitfinex and OrionX. The collaboration is part of the two parties’ broader initiative to drive and promote the widespread adoption of cryptocurrencies in the region.
Bitfinex Enters Latin America
Bitfinex made an exciting announcement on Wednesday, unveiling its recent investment in OrionX, a prominent cryptocurrency exchange in Chile. This strategic partnership between the two digital asset companies aims to foster various initiatives.
Such initiatives include supporting local education programs, empowering individuals with financial freedom, and driving efforts toward greater inclusion within the cryptocurrency ecosystem. By combining their resources and expertise, Bitfinex and OrionX aim to contribute significant development to a thriving and inclusive crypto landscape in Chile, benefitting individuals and communities.
Furthermore, the partnership underscores Bitfinex’s commitment to expanding its presence and fostering the growth of the crypto ecosystem within Latin America. The latest development comes just over a month after Bitfinex Securities El Salvador obtained an operating license from the National Digital Asset Commission in El Salvador.
This license enables Bitfinex to issue and trade secondary assets through a platform that aligns with the country’s regulatory framework. Meanwhile, this development showcases Bitfinex’s commitment to adhering to local regulations and further solidifies its position as a trusted and regulatory-compliant digital asset platform in El Salvador.
The exchange reportedly sponsored a three-week boot camp in Paraguay specifically designed to provide women with essential coding skills. By facilitating this educational opportunity, the firm aims to foster gender inclusivity and bridge the digital divide in the region.
Is Latin America The Next Crypto Hub?
Latin America has emerged as a thriving market within the cryptocurrency industry, attracting substantial interest from investors worldwide. Over the past year, the region has witnessed significant growth and advancement in the crypto scene, solidifying its position as a critical player in the global landscape.
This continued momentum and attention from external investors highlight Latin America as a region with immense potential and opportunities in crypto. Per Chainalysis’ Global Adoption Index for 2022, Latin America substantially influenced the global crypto landscape.
The region accounted for 9.1% of the total crypto value received worldwide during the year. With this impressive figure, Latin America has become the 7th largest cryptocurrency market globally, highlighting the region’s growing significance and influence within the digital asset space.
The data highlights the increasing adoption and acceptance of cryptocurrencies in Latin America, reflecting the region’s active participation in the global crypto ecosystem. In addition, the report further highlighted Latin America’s prominent presence in the worldwide crypto landscape.
The region boasts five countries among the top thirty global crypto index nations. This notable achievement reflects the growing interest and participation in cryptocurrencies within Latin America.
These countries that secured their positions in the index include Brazil, ranked at 7th place, followed by Argentina at 13th place, Colombia at 15th place, Ecuador at 18th place, and Mexico at 28th place. Meanwhile, the inclusion of these countries underlines their active contribution to the overall development and adoption of digital assets in the region.
The stats prove that Bitfinex’s investment in this region is a step in the right direction.