Orionx is planning to move into a number of new countries in hopes of surpassing a Million users by next year.
Cryptocurrency exchange Bitfinex has made an undisclosed financing in Chilean cryptocurrency exchange OrionX with the aim of expanding its footprint in Latin America, the company stated on Tuesday.
Established in 2017, OrionX offers cryptocurrency exchange and wallet services in Chile and has intends to expand to Peru, Colombia and Mexico and surpass one Million users by 2024, reports by Bitfinex.
“We’re happy to collaborate with Orionx as we look to expand our presence in Chile and across Latin America,” Paolo Ardoino, CTO at Bitfinex, stated in a statement. “This represents a major step forward in our efforts to harness the power of Bitcoin (BTC) and decentralized technology to encourage financial freedom and empower enterprises that share our values,” he added.
In 2022, Chilean cryptocurrency exchanges registered a growth of up to 50 percent in crypto stablecoin transactions owing to residents’ interest in protecting their assets from recent record inflation and the plunging Chilean peso.
Bitfinex in April was granted El Salvador’s 1st license for digital investment service providers, allowing the company to make available and offer secondary trading of assets.