Friday
December 11
2020

With Investors Expecting a Latin America Cryptocurrency Boom, Mexico’s Bitso Raises $62 Million

By Jonathan Shieber

Six years after the launch of the Mexico-based cryptocurrency exchange and financial services platform Bitso, the company revealed it has closed on $62 million in financing to capitalize on the cryptocurrency boom investors expect to hit Latin America.

The three major cryptocurrencies are all trading up in the waning months of 2020, with Bitcoin  prices nearing (or exceeding) record highs. The global growth of these digital currencies and their applications in emerging markets have savvy financial services investors like the firm QED Investors (founded by the masterminds behind Capital One) intrigued. Which is why the firm joined the Latin American heavyweight investor Kaszek Ventures in financing Bitso’s $62 million round.

Photo courtesy of Zach Copley.

Source: Tech Crunch (link opens in a new window)

Categories
Finance
Tags
cryptocurrency, digital currency, emerging markets, financial inclusion, financial services