El exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. OrionX starts its expansion: first to Peru and then to Mexico. It wants to continue growing in the Latin American region.
- OrionX announced its arrival in Peru
- Chilean exchange will also arrive in Mexico this year
- Reports that it has already surpassed 100,000 clients in Chile
The downturn in the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. market, which coincides in turn with a global recession, has caused many exchanges to have had to close refers to the closing price; similar to the same term used in stock trading. or that downsize . However, for some, the crisis has also been an opportunity for reinvention and growth.
El exchange chileno OrionX is one of those looking to grow.
As reported in a press release sent by email, after surpassing 100 thousand customers in the country where it was born, Chile, the startup starts operating in one of its neighboring countries: Peru.
He also indicated that in the coming months, towards the end of 2022, it will also arrive in Mexico, with a view to becoming a regional platform a place to buy, sell and store cryptocurrency in the longer term.
Joel Vainstein, CGO deOrionx, stresses that “Digital currencies will allow new generations a more open and efficient economy, which implies a more inclusive financial experience. That is why we are happy to open our operations in Peru and soon more places in Latin America, because we want to be a driving force for the use of Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. technology in the region”.
The startup was founded in late 2017 by Robert Zibert, Joaquín Díaz and Joel Vainstein, and as indicated in a press release exceeds the line of 100 thousand customers in Chile, which marked a growth of 300% in two years. In addition, it says that more than USD $300 million was transacted during 2021 on the platform, generating a growth of 13 times, compared to 2020.
According toOrionx, Peru’s crypto market an area or arena, online or offline, in which commercial dealings are conducted. is of high relevance, as it is estimated that at least 1.2 million Peruvians own cryptocurrencies (approximately four times the amount in Chile). As a proportion, at least 3.74% of the population has cryptoassets in their possession. “ As an immediate goal, we expect to transact USD $100 million in Peru by the end of the year”. Vainstein said.
Also, in the coming months the startup wants to turn Mexico into a base of operations and install its presence throughout the region. According to OrionX surveys, the crypto adoption rate in Mexico is estimated at 12% of the adult population.
The expansion plan contemplates an investment of more than US$1 million in the next 12 months, to consolidate a technical and administrative team in Peru; a strategy that will be replicated later in Mexico City, which will also have a physical office.
Until nowOrionX has focused on small investors, but now it’s going after the big fish. The startup plans to deploy a series of tools based on Blockchain beyond the traditional buying and selling of coins. One of them is theServicio OTC oTC, or ‘Over The Counter’ is trading that happens directly between two parties, with no exchanges or trading platforms involved. (Over the Counter)focused on large investors can place purchase orders of greater magnitude, exceeding even millions of dollars. There is also the service of staking, which will allow users to receive passive income by owning cryptos.
It is worth noting that Peru has become a market of interest for several exchanges. Recently, the Spanish exchange Bit2Me bought the Peruvian exchange Flow in order to establish a presence in that country.
Sources: Press release fromOrionX y archivo
Version of DiarioBitcoin
Image courtesy ofOrionX (they are the three founders of the exchange)