Bittrex and Cryptofacil Launch Caribbean and Latin American Crypto Exchange
The US-based exchange Bittrex has announced a partnership with Cryptofacil, a new cryptocurrency trading platform designed to accommodate residents in Latin America and the Caribbean. The company explains the new exchange will be powered by Bittrex and provide customers in those regions accessibility to over 200 digital assets.
Bittrex Launch New Exchange for Latin American and Caribbean Citizens
The North American cryptocurrency trading platform Bittrex is expanding its operations by entering a new partnership with a financial tech company called Cryptofacil. Right now the companies are providing a pre-registration period for interested traders. Bittrex has detailed it will be launching an exchange with Cryptofacil which will enable Latin American and Caribbean residents the capability to trade over 200 cryptocurrencies. Cryptofacil’s co-founder, Andres Szafran, says the team plans to leverage the Bittrex trading platform’s experience and token review process.
“We developed Cryptofacil to concentrate on basic customer requirements: a simple and easy to use cryptocurrency platform with superior customer support and value-added services in a safe and secure environment,” clarifies Szafran. “Our goal is to be the crypto exchange of record and the most reputable platform in Latin America and the Caribbean.”
A Focus on Driving Worldwide Cryptocurrency Adoption
Bittrex CEO Bill Shihara says the Cryptofacil team based in Uruguay has a deep knowledge of the Latin American and Caribbean markets. The partnership provides Bittrex with the opportunity to offer these residents access to a broad collection of cryptocurrency assets and the company believes it’s reputation can help bolster the goal. The partnership with Cryptofacil “will further drive worldwide adoption,” Shihara detailed during the announcement. Shihara emphasized: As we continue expanding our global footprint, it is partnerships like this one that will serve to not only support the blockchain industry, but also to incubate innovative projects using this revolutionary technology.
In Latin America and the Caribbean, a lot of the population is unbanked and estimates believe over 400M people don’t have access to basic financial services. The new Cryptofacil exchange will compete with a slew of other companies trying to tap this market such as Bitso, Ripio, Volabit, Panda Exchange, Bitex, and Cryptobuyer. Founded in 2013 by Shihara and with over $39M in daily cryptocurrency trade volume, Bittrex thinks it could make a dent in these areas. Moreover, while residents from the Caribbean and Latin America will be Cryptofacil’s 1st venture, the platform may expand to other areas as well, details Bittrex.