{"id":41977,"date":"2021-05-05T19:12:46","date_gmt":"2021-05-05T16:12:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=41977"},"modified":"2025-08-30T21:12:55","modified_gmt":"2025-08-30T18:12:55","slug":"bitso-latin-americas-largest-cryptocurrency-exchange-raises-250-million-at-a-2-2-billion-valuation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitso-latin-americas-largest-cryptocurrency-exchange-raises-250-million-at-a-2-2-billion-valuation\/","title":{"rendered":"Bitso, Latin America&#8217;s largest cryptocurrency exchange, raises $250 million at a $2.2 billion valuation"},"content":{"rendered":"<p>Bitso, Latin America&#8217;s largest cryptocurrency exchange, <a href=\"https:\/\/www.businesswire.com\/news\/home\/20210505005458\/en\/Bitso-Reaches-Unicorn-Status-and-Becomes-One-of-the-Most-Valuable-Fintechs-in-Latin-America\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">\u043f\u0440\u0438\u0432\u043b\u0435\u043a\u043b\u0430<\/a> $250 \u043c\u043b\u043d \u0432 \u0440\u0430\u043c\u043a\u0430\u0445 \u0440\u0430\u0443\u043d\u0434\u0430 \u0444\u0438\u043d\u0430\u043d\u0441\u0438\u0440\u043e\u0432\u0430\u043d\u0438\u044f \u0421\u0435\u0440\u0438\u0438 C. Investors valued the company at $2.2 billion.<\/p>\n<p>The round was led by Tiger Global and Coatue Management. The trading platform was also backed by Paradigm, BOND, Valor Capital Group, QED Ventures, Pantera Capital and Kaszek Ventures.<\/p>\n<p>According to the exchange\u2019s own data, it holds more than 95% of the cryptocurrency market in Mexico and more than 60% in Argentina. The company offers customers several products:<\/p>\n<ul class=\"wp-block-list\">\n<li>the Bitso app, enabling users to trade Bitcoin and other cryptocurrencies;<\/li>\n<li>the Bitso Alpha platform, designed for professional traders;<\/li>\n<li>The Bitso Business service, which uses Ripple\u2019s On-Demand Liquidity (ODL) solution to settle cross-border payments.<\/li>\n<\/ul>\n<p>According to the press release, the company will use the fresh funding to expand in South America and develop new products. In particular Bitso will launch a crypto-derivatives platform based on <a href=\"https:\/\/forklog.com\/en\/news\/bitso-to-launch-derivatives-trading-after-acquiring-quedex-platform\">the Quedex acquired earlier<\/a>.<\/p>\n<p>The exchange serves about 2 million accounts. Over the last 10 months, its user base has doubled.<\/p>\n<p>Bitso CEO Daniel Fogel told <a href=\"https:\/\/www.forbes.com\/sites\/ninabambysheva\/2021\/05\/05\/mexican-bitcoin-exchange-bitso-raises-250-million-becomes-latin-americas-first-crypto-unicorn\/?sh=6208f5fd64af\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">Forbes<\/a>, that in 2020 the exchange processed about 2.5\u20133% of the total remittance volume between the United States and Mexico (about $1.2 billion). He added that the lion\u2019s share of these flows was provided by the ODL service.<\/p>\n<p>In December 2020, <a href=\"https:\/\/forklog.com\/en\/news\/bitso-raises-62-million-for-international-expansion\">Bitso \u043f\u0440\u0438\u0432\u043b\u0435\u043a\u043b\u0430 $62 \u043c\u043b\u043d<\/a> from Kaszek, QED and other investors.<\/p>\n<p>In October 2019, Ripple and Coinbase invested in expanding Bitso\u2019s operations.<\/p>\n<p>Read ForkLog\u2019s Bitcoin news in our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bitso, Latin America&#8217;s largest cryptocurrency exchange, raises $250 million in a Series C round. Investors valued the company at $2.2 billion.<\/p>\n","protected":false},"author":1,"featured_media":41978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[2057,1166,909,1133],"class_list":["post-41977","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitso","tag-centralized-exchanges-cex","tag-latin-america","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41977","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=41977"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41977\/revisions"}],"predecessor-version":[{"id":41979,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/41977\/revisions\/41979"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/41978"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=41977"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=41977"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=41977"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}