Latin America’s crypto scene continues to evolve, with new products and regional expansions highlighting its rapid growth. This week’s most notable news is that Tether announced a partnership with Orionx to boost the use of Stablecoins in the region. On the other hand, World and Rappi teamed up to enhance digital ID verification in Argentina. This is a significant step toward 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, bringing the company’s Series A funding round to a close. With operations in Chile, Peru, Colombia, and Mexico, Orionx specialises in integrating stablecoin-based solutions into both B2B and consumer-facing platforms. This collaboration intends to improve financial inclusion and operational efficiency throughout Latin America, particularly in locations where traditional banking is inaccessible or expensive. According to Tether, this relationship is part of a larger initiative to promote digital financial options in underdeveloped regions. Between July 2023 and June 2024, Latin America experienced over $415 billion in cryptocurrency activity, with stablecoins playing a key role in cross-border transactions. In nations such as Argentina and Brazil, where inflation and currency depreciation are persistent issues, stablecoins are increasingly viewed as a dependable store of value and payment option. World and Rappi bring digital ID verifications to Argentina World, the human verification technology underlying World ID, has partnered with Rappi to provide identity verification services to users in Buenos Aires, starting with the neighbourhoods of Belgrano and Palermo. Previously, people had to go to a physical site to validate their World ID with an Orb. Now, thanks to this collaboration, the verification procedure can be initiated directly from the Rappi app, just like ordering food, providing ease and accessibility from the comfort of home. This is a significant step toward safe and anonymous digital identities in Latin America. Leaders from both World and Rappi emphasised the potential of technology to create inclusive progress throughout the region. While the program begins in Argentina, both firms intend to expand the service throughout the country and Latin America by the end of 2025, to simplify digital identity access for thousands. Bitget sets bold expansion goals in Argentina According to Carolina Gama, Bitget’s Country Manager, Argentina is a significant strategic market for the company, to double both its user base and trading volumes by 2025. After a 68% increase in users and a 34% increase in transaction volume in 2024, Bitget owes its success to favourable local and international conditions, notably Argentina’s political move toward pro-crypto laws under President Javier Milei. Gama also emphasised the significance of regulatory clarity, citing Bitget’s support for the CNV’s role in supervising virtual asset service providers. She highlighted Bitget’s dedication to transparency, user protection, and innovation. The company intends to grow its local presence through strategic partnerships , financial education, and user-friendly solutions such as One-Click Copy Trade. The post LATAM crypto news: Tether backs Orionx; World and Rappi launch ID verifications in Argentina appeared first on Invezz
