Bitfinex eliminates su market p2p

Bitfinex announced on Monday, March 17 that it will eliminate its P2P market for the sale of cryptocurrencies, a measure that enters into force as of Wednesday, March 19.

In a statement sent to the clients of the platform, the Exchange, which occupies the eleventh place among the largest cryptoactive exchange houses by volume of trade, He informed that after a «strategic review» will close its P2P market service.

As of March 19, users They will not be able to publish ads, execute new operations or create profiles In the system in pairs, according to the announcement.

The Exchange said that the P2P market service will also disappear from the direct accesses of the platform; however, Existing customers will be able to consult their transactions history in P2P.bitfinex.com or by mobile bitfinex application.

Subsequently, on March 26, the P2P Marketplace service will be completely dismantled, which will suspend access through the web interfacethe mobile application and the API. This decision marks the end of a functionality that allowed users to exchange cryptoactives directly with each other, without intermediaries.

The Bitfinex P2P market was one of the options available to convert cryptocurrencies into FÍAT and vice versa money, a service that was operational in several countries, including Latin America markets. This system was enabled in mid -2023 in Colombia, Argentina and Venezuela, three nations where P2P platforms have gained ground due to the high adoption of cryptoactive, as cryptoics reported.

In these countries, the use of cryptocurrencies has grown as an alternative to inflation and economic restrictions, which made Bitfinex a relevant actor in the region.

Although the statement has not yet been published on the official Bitfinex website, cryptootics learned that the closing of the P2P service responds to a change in the company’s approachwhich now seeks to orient themselves more towards the institutional sector. This strategic turn suggests that the Exchange will prioritize services aimed at large investors and entities.

Bitfinex, founded in 2012, is one of the cryptocurrency exchanges with the highest trajectory in the global market. Based in the British Virgin Islands, it has managed to position itself as A key platform for digital asset tradehandling a significant volume of daily transactions.

Its relevance extends especially in El Salvador, where it is registered with the National Digital Assets Commission (CNAD) and has established itself as one of the main platforms backed by the Nayib Bukele government. In that country, where Bitcoin was legal tender from 2021 until this year, Bitfinex has played an important role in financial infrastructure linked to cryptocurrencies.

The platform has also expanded its presence in other Latin American nations, adapting its services to the needs of emerging markets. In recent years, Bitfinex introduced tools such as P2P trade to facilitate access to cryptoactives in regions with limited banking systems or strict regulations. Howeverthe closure of this service indicates a change of course that could affect users that depended on this functionality for their operations.

The dismantling of the P2P market comes at a time when the use of cryptocurrencies continues to grow in the region, especially in countries such as Venezuela, where P2P platforms have been a way to overcome exchange controls. In Colombia and Argentina, interest in digital assets has also increased, driven by the depreciation of local currencies. Bitfinex had capitalized this tendency to launch its P2P service in 2023, but now it is decided to redirect its resources towards other objectives.

Bitfinex’s decision to close its P2P market does not imply a total withdrawal of its retail operations; The platform will continue to offer traditional exchange services and other functionalities. However, the institutional approach pursued by the Exchange It could translate into new tools or alliances aimed at companies and large investorsinstead of individual users.