The Chilean exchange Orionx ended its Series A fundraising by gaining an important investment from Tether. This will play a key role in the progress of digital assets in Latin America. Tether supporting Orionx will help the brand grow in Chile, Peru, Colombia and Mexico. The budget also allows Orionx to improve its local operations and technology.

Key-Takeaways:

• Orionx plans to expand stablecoin services with the help of Tether’s investment and work on enhancing services throughout Latin America.
• Financial inclusion is promoted by Orionx’s platform which uses stablecoins to ensure low-cost, fast payments between countries.

Increasing Geographical Coverage and Stand in the Market

Chilean Exchange Orionx concentrates on cross-border payments as a top digital asset exchange and infrastructure provider. It supports the use of cryptocurrencies in online retail and business-to-business (B2B) in Latin America.

Orionx plans to use Tether’s help to boost its stablecoin-supporting services. Services offered are remittances, collection processes and treasury tools in the region.

It shows just how active Latin America is in crypto, receiving about $415 billion in digital assets during this time. In Brazil and Argentina, compared to other countries, stablecoins brought in the most indirect flows, mainly due to people chasing safe digital alternatives as inflation climbs. 

Chilean Exchange Orionx is making use of the growing interest in crypto. It gives both institutions and individual investors important tools for long-term financial security.

Overcoming Problems related to Financial Inclusion

Many Latin American adults are unbanked because it is hard for them to get an account due to firm identification rules, little availability and high costs. A lot of people are kept outside the typical financial systems.

Chilean Exchange Orionx has created a platform called “Remittances as a Service” to deal with this. Businesses can use it to pay or receive funds from other countries at a reasonable cost and a quick pace, not depending on banks.

Many Latin American adults are unbanked because it is hard for them to get an account due to firm identification rules, little availability and high costs. A lot of people are kept outside the typical financial systems.

Chilean Exchange Orionx has created a platform called “Remittances as a Service” to deal with this. Businesses can use it to pay or receive funds from other countries at a reasonable cost and a quick pace, not depending on banks.

Paolo Ardoino, CEO of Tether, mentioned the move as a means for Tether to bring financial advantage to developing countries using stablecoins. He says that backing Orionx provides affected communities in the area with new financial tools, matching Tether’s overall objective in Latin America.

Joel Vainstein, CEO of Orionx, views the collaboration as a major direction change for the company’s B2B strategy. He pointed out that businesses these days are desiring access to financial tools at reduced costs and faster speed.

Because of Tether’s investment, Orionx can now focus on quicker development of digital, flexible and scalable solutions for payments and treasury. Chilean exchange Orionx was backed by Bitfinex in 2023 which is a sister company to Tether. This helped South America grow within the region.

Tether is extending the relationship with relationships, represented by its investment. This gives access to new funds to help with technology and reach a larger audience.

With the partnership, Orionx will take advantage of Brazil’s growing interest in crypto investments from institutions. More stablecoin payments are used in business due to increased regulations and rising needs for stability.

Partnering demonstrates that both want to offer people stable, secure dollar-linked digital coins. It wants to give individuals and businesses more options than conventional banking. As stablecoins become more important in LATAM finance, this cooperation is particularly marked. It shows a deliberate effort to widen the scope of financial innovation.

Conclusion

Chilean Exchange Orionx, supported by Tether’s investment, is placed to boost widespread use of digital assets in Latin America by ensuring people and companies there can rely on stable, open and well-functioning financial instruments.