Bitfinex has made an undisclosed investment in Chilean crypto exchange OrionX with the aim of expanding its presence in Latin America. OrionX, founded in 2017, currently offers crypto exchange and wallet services in Chile and plans to expand to Peru, Colombia, and Mexico with the goal of surpassing one million users by 2024.

Chilean crypto exchanges saw a growth of up to 50% in stablecoin transactions in 2022 due to residents' interest in protecting their assets from recent record inflation and the plunging Chilean peso.