One of the world’s leading crypto exchanges, Bittrex has announced a partnership with Latin America and the Caribbean focused exchange, Cryptofacil. The partnership will allow Cryptofacil to accept deposits of the exchange’s listed digital tokens.
— Bittrex (@BittrexExchange) July 25, 2019
Cryptofacil is one of the emerging crypto exchanges from Latin America and is based on the Bittrex Trading Platform. It was launched in September last year, and since then, has witnessed exponential growth, as most countries in the region have a growing demand for blockchain and crypto projects. Commenting on the development, Cryptofacil Chief, Andres Szafran said,
Cryptofacil’s mission is to make crypto more accessible to Latin America by introducing more than 650 million people from 20+ countries to over 250 cryptocurrencies and blockchain projects.
Latin America, Asia, and North Africa are the most important regions for crypto companies, especially at a time when regulators in Europe and North America, particularly in the US, are tightening their grip on the industry, glimpsing a future exit, which could be devastating. Therefore, companies like Bittrex, Binance, Huobi, etc. are taking giant strides in these regions to keep the demand alive and ease their dependence on the US markets.
Cryptofacil is perfectly apt for Bittrex, as it being built on Bittrex’s own platform, allowing seamless integration. The deposits will give users a large variety of tokens to deposit and give them the surety of Bittrex. The project’s Director of Business Development, Kwon Park said,
Cryptofacil has rapidly grown into one of the leading exchanges in Latin America since its launch last year. Today represents another step in Cryptofacil’s and Bittrex’s shared commitment to support global blockchain innovation and create a robust marketplace that is necessary for participation.
The partnership will allow Bittrex to ramp up its operations in the country by combining its trading platform technology prowess with Cryptofacil’s customer service and better connect with the local users.