Bitfinex Invests In Chilean Crypto Exchange OrionX
Bitcoin exchange In order to increase its presence in Latin America, Bitfinex has made an undisclosed investment in the Chilean cryptocurrency exchange OrionX, the business announced on Tuesday.
According to Bitfinex, OrionX, which launched in 2017, provides cryptocurrency exchange and wallet services in Chile with intentions to expand to Peru, Colombia, and Mexico and reach one million customers by 2024.
“We’re excited to collaborate with Orionx as we look to expand our presence in Chile and across Latin America,” Paolo Ardoino, CTO at Bitfinex, said in a statement. “This represents a major step forward in our efforts to harness the power of Bitcoin and decentralized technology to promote financial freedom and empower businesses that share our values,” he added.
In 2022, Chilean crypto exchanges registered a growth of up to 50% in stablecoin transactions due to residents’ interest in protecting their assets from recent record inflation and the plunging Chilean peso.
(With inputs from Shikha Singh)
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