The investments that have taken place in the cryptocurrency market in Chile involve mergers and acquisitions, partnerships, funding, and product and service launches.
On 13 March 2023, one of the leading digital-asset exchanges, Bitfinex, invested in OrionX, a crypto exchange company based in Chile. This would underpin and root the presence of Bitfinex in Latin America and support the expansion plans laid down by OrionX for expansion into multiple new countries with a current user base of half a million customers doubling in less than one year. This certainly underlines Bitfinex’s ambition to take advantage of the fast-growing cryptocurrency market in Latin America and provide OrionX with the necessary resources for its ambitious growth plans.
The same month, Latin American e-commerce giant Mercado Libre extended cryptocurrency trading to Chile in collaboration with Ripio, a regional cryptocurrency firm. This would allow the company, out of its platform, to give, therefore, the possibility of trading with its customers in Chile locally, the same way it does in each market where Ripio is located, using the knowledge and local infrastructure that enables this operation. This would cement Mercado Libre’s commitment to the tireless satisfaction of emerging user needs and to capitalizing on the upward demand for services related to cryptocurrency in Latin America.
In August 2022, BTG Pactual launched the first-ever public crypto fund for investors in Chile. This has been one huge step toward the much-needed involvement of Chilean investors in cryptocurrency investing. All this will be done while keeping in mind the demand for digital asset investment and also meeting the regulatory requirements of the country.