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Bitfinex launches peer-to-peer trading platform "Bitfinex P2P" focusing on Latin American users

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Bitfinex launches peer-to-peer trading platform "Bitfinex P2P" focusing on Latin American users

Bitfinex will launch a peer-to-peer exchange in Argentina, Colombia, and Venezuela. Earlier this year, another P2P platform, LocalBitcoins, announced in February that it will permanently cease operations, ending its 11-year service.

Bitfinex: Committed to Developing the Latin American Region

According to an announcement, " Bitfinex P2P " was launched on June 27th, currently only offering trading in 5 cryptocurrencies:

  • BTC

  • ETH

  • Tether Gold XAUT

  • Tether USDT and EURT

In a statement, Bitfinex CTO Paolo Ardoino said:

We are excited to launch Bitfinex P2P in Venezuela, Argentina, and Colombia, allowing us to provide users with the most convenient way to participate in the market based on their needs and preferences. We believe that Bitcoin and other digital assets can bring more financial innovation.

Bitfinex P2P Trading Interface

LocalBitcoins Shuts Down after Ten Years of Operation

LocalBitcoins, another peer-to-peer trading platform founded in June 2012, announced its closure in February this year, ending over a decade of operation due to difficulties in overcoming the long bear market. Users could only withdraw Bitcoin after February 17th.

The situation with another peer-to-peer platform, Paxful, is more complicated. Former CEO Ray Youssef claimed in early April that due to regulatory issues, the platform seemed to have unilaterally shut down, but a month later, Paxful announced in a statement that the platform had resumed operations and on May 30th, announced Roshan Dharia as the new CEO.

Foreign media CoinDesk pointed out that Ray Youssef and COO Artur Schaback are currently in court due to a series of internal platform issues, leading to a temporary stalemate for the platform.