Renowned Latin American cryptocurrency exchange Bitso has raised $250 Mn in its Series C funding round, the firm revealed earlier on Wednesday.
The Mexico-based Bitso is now valued at $2.2 Bln, making it the primary cryptocurrency company within the region to exceed a worth of $1 Bln, the firm added within an official statement.
Investors Tigre Global and Coatue led the funding round, alongside Paradigm, BOND, and Valor Capital Group.
Today’s announcement follows a Series B last December when the firm raised $62 Mln with the goal of expanding its operations to Brazil. The firm launched operations in Brazil last week.
Bitso is presently operational in Mexico and Argentina, consistent with the statement. In January 2021, Bitso also became one of the nine approved firms in Colombia’s fintech regulatory sandbox pilot to trial banking services for cryptocurrency firms. A month later, Bitso acquired the Gibraltar-based cryptocurrency derivatives trading platform Quedex, to include its trading engine across the exchange.
“Bitso’s next product offering will specialize in better serving the requirements of users and businesses across Latin America by making crypto assets useful through real use cases,” the statement outlined.