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Digital asset exchange Bitfinex has launched a peer-to-peer (P2P) trading platform in Venezuela, Argentina and Colombia.
In a June 27 announcement, the cryptocurrency exchange said it had launched the “Bitfinex P2P” platform, allowing users in South American countries to buy and sell bitcoin (BTC), ether (ETH), Tether (USDT), the Euro-pegged stablecoin Tether. EURT and Tether Gold (XAUT). Bitfinex CTO Paolo Ardoino suggested that the three-country expansion 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, 2023
Related: Peer-to-peer cryptocurrency exchanges struggle to navigate the changing legal landscape
The launch announcement follows El Salvador’s Bitfinex unit being licensed as a digital asset service provider by the country’s National Digital Assets Commission in April. In May, the exchange also partnered with Chilean cryptocurrency platform OrionX in an effort to support local education programs and financial literacy.
P2P cryptocurrency exchange LocalBitcoins, which served many Latin Americans, went out of business in February after more than a 10-year hiatus. Paxful, another popular platform in the region, went on hiatus in April but announced it would resume operations in May.