Bitso, a prominent cryptocurrency exchange based in Mexico, has announced the roll-out of a new international payments platform.
Designed to bridge the gap between Latin America and the global marketplace, this service empowers businesses to make cross-border transactions using a mix of cryptocurrencies, traditional fiat money, and stablecoins.
Santiago Alvarado, SVP of institutional products at Bitso, commented on the launch:
“With this launch, we seek to boost the economies of our region, by facilitating operations between countries and opening trade corridors that increase the development and prosperity of Latin America.”
Regions set to benefit from this service, at its inception, include Bitso’s existing operational territories: Mexico, Argentina, Brazil, and Colombia.
Founded in 2014 by Ben Peters, Daniel Vogel, and Pablo Gonzalez, Bitso has carved a niche for itself as one of the preeminent cryptocurrency exchanges in both Mexico and the broader Latin American region.
Cryptocurrency’s Rising Tide in Mexico
Mexico, as one of the heavyweight nations in Latin America, boasts a burgeoning cryptocurrency community. It has emerged as a hub in the Latin American crypto ecosystem, with an impressive percentage of its population actively holding cryptocurrencies.
Statista data underscores Mexico’s place among the global top 30 nations in terms of cryptocurrency adoption. As digital currency acceptance skyrockets in Mexico, its residents increasingly lean on cryptocurrencies for tasks like sending international remittances.
