Bitfinex, a prominent digital asset trading platform, has announced the launch of a new peer-to-peer (P2P) platform, dubbed Bitfinex P2P.
The platform, which will initially target markets in Venezuela, Argentina, and Colombia, enables customers to directly trade Bitcoin (BTC), Tether tokens (USDT and EURT), Tether Gold (XAUT), and Ethereum (ETH) while facilitating payments outside of the Bitfinex platform, according to a press release shared with CryptoSlate.
Bitfinex P2P allows users to swap one digital token for another within the marketplace. The trading process entails a two-stage procedure, starting with a customer, called the ‘Maker,’ creating an ‘Ad’ on the ‘Ad Board’ to signal their intent to exchange a supported token. This Ad is then visible to other customers, the ‘Takers,’ who can choose to engage in a trade based on the conditions outlined by the Maker.
The ‘Bitfinex P2P Market Place’ includes a public profile view feature for added security during transactions. This feature allows users to access essential information about a potential counterparty, including average payment time, trading volume, trade counts, and other pertinent details before proceeding with a trade.
A mobile version of Bitfinex P2P, alongside other features geared towards enhancing the customer experience, is slated for release later this year. This mobile version will allow customers to trade cryptocurrencies on the go.
Bitfinex’s initiatives
The launch of Bitfinex P2P in Latin America is the latest in a series of Bitfinex’s initiatives to expand access to digital asset-related financial services in the region. Before this, the company had invested in the Chilean crypto bank OrionX and established a significant presence in El Salvador, the first country to officially adopt Bitcoin as a legal tender.
“By offering a reliable and efficient platform for P2P token trading, we aim to empower our customers and believe in the transformative power of digital assets,” commented Paolo Ardoino, CTO of Bitfinex. “Our strategy revolves around providing unparalleled support, tools, and innovation for professional traders and liquidity providers globally.”
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