Bitfinex, a digital asset platform, has released an announcement of a new partnership with Chile-based cryptocurrency exchange OrionX .The investment intends to support local education programs and initiatives focused on financial freedom and inclusion in Latin America, as Bitfinex investiagtes ways to drive wider cryptocurrency adoption in the region .
Bitfinex’s Ongoing Efforts in Latin America
Bitfinex’s collaboration with OrionX follows the recent addition of an operating license in El Salvador ,which allows Bitfinex Securities to issue and trade secondary assets in compliance with local governance .Additionally Bitfinex sponsored a coding boot camp for women in Paraguay, highlighting their commitment to promoting technological skills and inclusivity .
Growing Crypto Market and Developments in Latin America
Latin America has witnessed significant growth in the cryptocurrency market, which attracted the attention of foreign investors .According to the Chainalysis Global Adoption Index for 2022, the region accounted for 9.1% of the global value of crypto received, ranking it seventh globally .Notably several Latin American countries, including Brazil, Argentina, Colombia, Ecuador and Mexico are listed among the top thirty countries in the index.
In recent developments, Coinbase expanded its services in Brazil through local partnerships, even offering Portuguese customer support and streamlined onboarding processes .In Argentina the country’s securities regulator approved a Bitcoin futures index, marking an important milestone for cryptocurrency adoption in the region .Additionally a partnership between stablecoin issuer Tether and platform KriptonMarket enables support for USDT transactions in Argentina’s Central Market, promoting the use of cryptocurrencies in the country.