Bitfinex has made its digital token trading platform available in Spanish to address its growing base of Spanish-speaking customers.
Spanish is the fifth language to be supported on the Bitfinex platform, following English, Russian, traditional and simplified Chinese.
Educational content is also available in Spanish on the platform’s Knowledge Base so its Spanish-speaking users are able to improve their knowledge of crypto and blockchain.
Claudia Lagorio, COO at Bitfinex, said: “We’re delighted to launch a Spanish version of our service. As a leading digital token platform, we’re serving a growing number of Spanish speakers, particularly in Latin America where the philosophy of cryptocurrency resonates with so many.”
A recent study published by Statista, the Latin American region holds the largest number of cryptocurrency users in the world, with Brazil, Colombia, Argentina, Mexico, and Chile falling within the top 10 cryptocurrency countries.
Venezuela was not a study participant, but given its troubles with maintaining a stable official currency, it is most likely that many Venezuelans have joined the crypto space.
About half of the Latin American population has no access to basic banking services. Just 113 million people out of a population of about 650 million have credit cards. The World Bank reports that 55% of adults in Latin America own a mobile phone and have access to the internet. A large unbanked population with access to WiFi makes diving into cryptocurrency far easier than opening a checking account.
Bitfinex has recently launched a social network tailored to meet the needs of crypto traders and provide them with a trading edge. Eligible verified users may use the app to share his or her thoughts on crypto both privately and publicly. Unverified users can only publish private pulses on mobile. Users can follow each other, like, share, and interact within the community instantaneously.
The operator is leveraging its position as a one-stop-shop for crypto trading, offering a variety of services, including margin trading with up to 5x leverage.
Bitfinex has also launched an advanced lending tool designed to automate lending in order to enhance the efficiency of capital allocation on the exchange. Lending Pro utilizes automated technologies and advanced features to manage lending, based on a user’s specifications and market conditions.
In 2020, the crypto platform launched an institutionally oriented post-trade service in collaboration with London-based Koine, thus delivering a trading environment that meets the needs of institutional investors, providing fund managers with a separate custody solution while maintaining continuous ownership throughout the trade lifecycle. By delivering cross-venue operability, and real-time settlement, with cleared funds, algorithmic traders can dramatically increase capital efficiency leading to a huge growth in trading volumes. Koine is a London-based digital asset custody provider that provides customers with access to a post-trade solution from a business licensed by the UK’s Financial Conduct Authority.