db825592f2ae06ecf34fcd498bcd009a 6 Latin America's Crypto Boom: How Bitso Made $2 Billion in 2 Years

Latin America’s Crypto Boom: How Bitso Made $2 Billion in 2 Years

– Bitso is a leading crypto exchange in Latin America, with over 4 million users across five nations.

– The company hopes that crypto can help with high inflation and devalued currencies in Latin America.

– Bitso has secured seven funding rounds totaling $314 million by mid-2021, and its valuation has topped $2 billion.

– The firm offers low-cost remittance options and 35 cryptocurrencies to its 4 million users in Mexico, El Salvador, Brazil, Colombia, and Argentina.

– While crypto disciples may be largely driven by ideology, Latin Americans may have immediate fundamental needs digital currencies can help solve.

– However, crypto is likely not the end-all-be-all solution, and the Latin American market is not immune to crypto’s struggles.

 

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