Bittrex and iBitt Exchange announced a partnership on 22 May to herald a new digital asset trading platform, iBitt.co, facilitated by Bittrex technology.
Bittrex sustained by adding that the partnership would enable integration across a host of blockchain powered financial services. The current offer is for the South American countries Chile and Peru. The services include a network of ATM terminals and remittance service. This facility is leveraged through iBitt group companies Investa and Quick Express (Quickex). iBitt would expand into Peru while already offering the most liquid markets in Chile.
Bittrex CEO Bill Shihara quoted –
“Our core mission at Bittrex is to drive increased adoption of blockchain technology. And that is why we are so proud to power the iBitt platform in Chile, Peru and beyond. Their team is offering innovative solutions that can impact real people by putting blockchain in their hands right now. What a great fit for a partnership as we continue to introduce Latin America, and the world, to the power of this technology.”
Bittrex stated that iBitt would provide more than 100 digital asset and fiat pairs while continuing to add more digital assets. These assets would be available on the Bittrex International platform. Bittrex also informed that iBitt has also launched an OTC trading desk for large volume traders of Bitcoin (BTC) and Ethereum (ETH). New users in Peru, or elsewhere could register for an account from the respective portal.
Bittrex continued by noting that in addition to the new digital asset trading platform, iBitt would also offer users an iBitt card. This facility would be through its group company Investa. This card grants access to a network of ATMs where users could exchange crypto for cash, withdraw and transfer funds to their iBitt wallets. Bittrex indicated that Investa also offers credit and debit cards which work with both fiat or cryptocurrency accepted at over 38 million merchants worldwide.
Chris Schwarzenbach, iBitt Chief Operations Officer echoed his sentiments by expressing that they were proud to partner with Bittrex. This was in a bid to launch the most liquid digital asset platform in the country. He opined that the takeaway opened up a world of possibilities to the Latin American market. Chris specifically noted that Chilean and Peruvian consumers would be much benefited from state of the art fintech products.
Recently, IdentityMind announced that Bittrex is using IdentityMind’s Digital Identities Platform for automated Transaction Monitoring as a function of its anti-money laundering (AML) program. This is for both its Bittrex and Bittrex International platforms.