Per a press release published September 5, 2018, Bittrex announced that they have partnered with Cryptofacil to create a digital asset trading exchange aimed at the Caribbean and Latin American markets. The exchange will enable trading of over 200 different tokens and currencies in regions that have so far gone unnoticed in the growing crypto market.
Crypto de la America
Cryptofacil is new on the block, even by crypto standards. Launched just this year, the fintech startup is aimed at bringing crypto trading to Latin America and the Caribbean.
The exchange they are building will be fully available in both Spanish and Portuguese, as well as English.
Cryptofacil is also preparing to be in full compliance with financial regulations in the regions. Beyond that the hope is that, unlike the problems many startup exchanges have run into, they will be ready to tackle customer support in multiple languages, as well as to reach out to relevant communities with marketing and communication.
For those of you who were with us at the end of last year and the height of the bull run, you may remember what a colossal challenge many exchanges found these issues at the time. With the explosion in trading volume some notable exchanges, like Kucoin and COSS, became almost unusable during the most active hours of the day, and even Binance was forced to close registrations at one point.
Interacting with customer service during those days was not pleasant for anyone, and certainly the language barriers did not help. Crypto is a global phenomenon, but the people running projects and exchanges alas remain only human.
Nevertheless, with a regional focus and support for three languages out the gate, Cryptofacil hopes they will avoid the pitfalls others have run into in the past.
While Cryptofacil handles localization and regulation, the Bittrex team will bring to bear their experience in digital security and token review – as well as the exchange architecture of their own trading platform. While Bittrex has a global presence already, the US based trading platform too are confident they will benefit from this partnership. Large as they are, they have not had much of a presence in Latin America – which is exactly what the partnership with Cryptofacil hopes to bring.
While the new exchange will focus primarily on the underserved regions of Latin America and the Caribbean, Cryptofacil will also seek to expand its trading services to other markets in time.
Those interested in creating an account for the exchange can register their interest on Cryptofacil.