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One of the world’s most popular trading platforms, Bittrex, is expanding the capacity of its operations by partnering with a technology company known as Cryptofacil.
Bittrex specified that the partnership intends to launch a separate exchange with Cryptofacil that will enable residents of Latin America and the Caribbean to trade more than 200 cryptocurrencies. So far, companies are offering a pre-registration phase for those already interested in participating.
Andres Szafran says the team plans to take advantage of Bittrex’s expertise and its token review process.
“We developed Cryptofacil to focus on basic customer requirements: a simple, easy-to-use crypto platform with superior customer support and value-added services in a secure environment.”
“Our goal is to become the most reputable crypto record exchange and platform in Latin America and the Caribbean.”
On the other hand, Bittrex CEO Bill Shihara points out that the Cryptofacil team has extensive knowledge of the Latin and Caribbean markets. The partnership gives Bittrex the ability to offer these residents a broad selection of digital assets.
“The partnership with Cryptofacil will further drive worldwide adoption,” Shihara said during the announcement.
“As we continue to expand our global footprint, with partnerships like this one that will serve not only to support the blockchain industry but also to incubate innovative projects using this revolutionary technology.”
In Latin America and the Caribbean, more than 400 million people do not have access to basic banking services. The new exchange of Cryptofacil and Bittrex will compete with many other companies trying to enter this market, such as Bitso, Ripio, Volabit, Panda Exchange, Bitex and Cryptobuyer.
Bittrex, founded in 2013 by Shihara and has more than 39 million USD in daily volume of cryptocurrencies, sees Cryptofacil as a company that can emphasize these areas. Also, Bittrex details that while citizens from the Caribbean and Latin America will be Cryptofacil’s first customers, the platform will also expand to other markets.
This is an opportunity for Bittrex to expand its market and for Cryptofacil to grow in the Latin American cryptocurrency market, which is quite small compared to the United States, China, Japan, Singapore, etc.