Bittrex, one of America’s largest cryptocurrency exchanges, will be powering a new digital currency operator in Uruguay, Cryptofacil. The announced partnership will launch a digital asset trading platform with over 200 digital tokens that will reach customers in Latin America and the Caribbean.
Bittrex will provide its trading platform technology and a wide range of digital tokens to help the new operator grow in an increasingly competitive market. Cryptofacil’s team will be responsible for the customer operations, including compliance, customer support, marketing, sales, and customized development.
Andres Szafran, co-founder at Cryptofacil, commented:
“This partnership with Bittrex positions Cryptofacil as a leader in the Latin America and Caribbean digital asset markets, with an offering of more than 270 token pairings. With a unique user interface, our platform will allow our customers to manage trades in a simple way, with premium services and competitive market fees. We developed Cryptofacil to focus on basic customer requirements: a simple and easy to use cryptocurrency platform with superior customer support and value-added services in a safe and secure environment. Our goal is to become the crypto exchange of record and the most reputable platform in Latin America and the Caribbean.”
Bill Shihara, Chief Executive Officer of Bittrex, said:
“Bittrex works every day to advance blockchain technology and this partnership with Cryptofacil will further drive its worldwide adoption. Cryptofacil and Bittrex will provide Latin American and Caribbean customers a reliable, fast and secure trading platform that also offers access to some of the world’s most innovative blockchain projects. As we continue expanding our global footprint, it is partnerships like this one that will serve to not only support the blockchain industry, but also to incubate innovative projects using this revolutionary technology.”
Cryptofacil’s digital asset trading platform was founded in 2018 under license from Bittrex. The cryptocurrency offering goes through a robust token review process before being available for trading. In late March, the US-based exchange delisted 82 different altcoins to ensure that all tokens listed meet the platform’s “strict coin listing criteria and have a properly functioning blockchain and wallet”.
Not only the Uruguayian private sphere is entering the cryptocurrency market. The country’s chamber of fintech has created a special committee for the development of a crypto regulation framework in order to help strengthen and develop the country’s financial system. Last year, the Central Bank of Uruguay announced a plan to launch a national cryptocurrency, the digital equivalent of the Uruguayan peso. The pilot project aims to check whether cryptocurrency in the future can become a way of sharing and transactions