The new collaboration aims to boost local education programs.
In a bid to accelerate cryptocurrency acceptance in Latin America, the digital asset platform Bitfinex has announced a strategic alliance with a prominent local crypto exchange OrionX.
Bitfinex unveiled on May 24th that it has invested in one of Chile's foremost cryptocurrency exchanges OrionX.
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According to the official announcement, the collaboration is designed to bolster local education programs and drive initiatives promoting financial freedom and inclusion.
When talking about the collaboration, Bitfinex CTO Paolo Ardoino stated:
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. We look forward to working even more closely with the team at Orionx to support its growth and development going forward.
Based on the announcement, the company is now looking to expand its services in countries like Peru, Mexico, and Colombia.
This announcement comes just over a month after Bitfinex Securities El Salvador received an operating license from the National Digital Asset Commission of El Salvador. The license allows Bitfinex to issue and trade secondary assets in compliance with local regulations, further demonstrating the exchange's commitment to regulatory compliance.
OrionX co-founder, Joel Vainstein, stated:
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.
This new partnership between Bitfinex and OrionX signifies a significant step forward in promoting cryptocurrency adoption in Latin America. Through initiatives like educational programs and financial inclusion efforts, Bitfinex is well-positioned to foster a greater understanding and usage of digital assets within this rapidly evolving region.
