Digital asset exchange Bitfinex has launched a peer-to-peer (P2P) trading platform in Venezuela, Argentina and Colombia.
In a June 27 announcement, the crypto exchange said it had started the “Bitfinex P2P” platform allowing users in the South American nations to buy and sell Bitcoin (BTC), Ether (ETH), Tether (USDT), Tether’s euro-pegged stablecoin EURT and Tether Gold (XAUT). Bitfinex chief technology officer Paolo Ardoino suggested the expansion into the three countries was part of the firm’s efforts to promote digital asset-related financial services in Latin America.
Something BIG is happening! #BitfinexP2P is redefining P2P trading, driving economic growth, and promoting financial inclusivity in LATAM.
Learn more: https://t.co/xHloxLnbTh pic.twitter.com/gw2Y9X4CfP
— Bitfinex (@bitfinex) June 27, 2023Related: Peer-to-peer crypto exchanges struggle to navigate shifting legal landscape
The launch announcement followed Bitfinex’s El Salvador arm receiving a digital asset service provider license from the country’s National Digital Asset Commission in April. The exchange also partnered with Chile-based crypto platform OrionX in May, aiming to support local education programs and financial literacy.
P2P crypto exchange LocalBitcoins, which provided services to many residents of Latin America, shuttered its operations in February after more than 10 years. Paxful, another platform popular in the region, suspended operations in April but announced in May it was back online.
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