LATAM Crypto News: Tether Backs Orionx; World and Rappi Launch ID Verifications in Argentina
Latin America’s crypto scene continues to develop, with regional growths and new products highlighting its rapid growth. This week’s most noteworthy news is that Tether announced a partnership with Orionx to increase the use of Stablecoins in the area. On the other hand, World and Rappi teamed up to improve digital ID confirmation in Argentina. This is a substantial action towards safe and anonymous digital identities in Latin America.
Tether Backs Orionx to Expand Stablecoin Use in Latin America
Tether has announced a strategic investment in Orionx, a cryptocurrency platform based in Chile, to enhance the use of Stablecoins in Latin America. Orionx specializes in incorporating stablecoin-based solutions into both B2B and consumer-facing platforms, with operations in Chile, Peru, Colombia, and Mexico. This partnership aims to improve financial inclusion and operational efficiency across Latin America, especially in areas where traditional banking is inaccessible or expensive.
According to Tether, this collaboration is part of a broader effort to promote digital financial options in underdeveloped regions. Latin America witnessed over $415 billion in cryptocurrency activity between July 2023 and June 2024, with stablecoins playing a vital role in cross-border transactions. In countries like Argentina and Brazil, where inflation and currency depreciation are persistent issues, stablecoins are increasingly seen as a reliable store of value and payment method.
World and Rappi Bring Digital ID Confirmations to Argentina
World, the human verification technology behind World ID, has partnered with Rappi to offer identity verification services to users in Buenos Aires, starting in the neighborhoods of Belgrano and Palermo. Previously, individuals had to visit a physical location to verify their World ID with an Orb. Thanks to this collaboration, the verification process can now be initiated directly from the Rappi app, providing convenience and accessibility from home.
This initiative is a significant step towards confidential and secure digital identities in Latin America. Leaders from World and Rappi highlighted the potential of technology to drive inclusive progress in the region. While the program commences in Argentina, both companies have plans to expand the service nationwide and throughout Latin America by the end of 2025, simplifying digital identity access for thousands.
Bitget Sets Bold Expansion Goals in Argentina
Carolina Gama, Bitget’s Country Manager, revealed ambitious expansion plans for Argentina, aiming to double both the user base and trading volumes by 2025. Following a substantial increase in users and transaction volume in 2024, Bitget attributes its success to favorable local and global conditions, particularly Argentina’s pro-crypto legislative direction under President Javier Milei.
Gama emphasized the importance of regulatory clarity and highlighted Bitget’s support for CNV’s oversight of virtual asset providers. The company is committed to transparency, user protection, and innovation, intending to enhance its local presence through strategic partnerships, financial education, and user-friendly services like One-Click Copy Trade.
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