RATE Group | Ripple leads investment round in Mexican cryptocurrency exchange Bitso
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Ripple leads investment round in Mexican cryptocurrency exchange Bitso

16 Oct Ripple leads investment round in Mexican cryptocurrency exchange Bitso

Posted at 02:20h in Cryptocurrency News by

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  • Bitso claims to serve more than 750,000 customers.
  • The investors are seeking to leverage Bitso’s expansion into Latin America.

Bitso, a cryptocurrency exchange based in Mexico, has recently raised funds from a number of major investors, including Ripple, Coinbase, and Jump Capital, to widen its reach in Latin America. Operating since 2014, Bitso was the first crypto exchange in Mexico. As per an investment announcement on Ripple’s blog, Bitso claims to serve more than 750,000 customers. 

No information was released on the full value of the investment. Asheesh Birla, Ripple’s senior vice president of product management, announced he was joining Bitso’s board. The investors are seeking to leverage Bitso’s expansion into Latin America, provided the growth in remittance flows into the region. In Mexico alone, over $35.7 billion of remittance transactions are completed every year. Birla commented:

“Technologies like blockchain and digital assets could…

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