FX Firm Joins Mexican Bitcoin Exchange's $2.5 Million Fundraise
Bitcoin exchange startup Bitso has raised $2.5m to make it easier for the underbanked in Mexico to gain access to financial services. Among the investors is Mexico-based foreign exchange, Monex Group, which last year conducted $160bn in transactions in Europe, the US and Latin America. Bitso's co-founder and president Daniel Vogel told CoinDesk he believes the expertise of Monex and the other investors will help the startup grow from its "strong footprint" of users in Mexico to elsewhere in Latin America. Speaking from the exhibit booth his company won as part of a startup....
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Bitso, the first Mexican exchange, opens for trading tomorrow. Currently this is the only local platform on which to exchange bitcoins for Mexican Pesos. Interested parties will be able to register at bitso.com. The company emphasises that its platform has been designed with ease of use and power in mind. The company already has over 1,000 pre-registered users. It expects these parties to gradually begin using the new exchange platform from tomorrow. It is expected that trading activity will increase as participants become more comfortable with the exchange and the company, and as they get....
Bitso, a bitcoin exchange based in Mexico, was able to secure a seed-funding round from the Digital Currency Group and angel investors in the country. The exchange plans to expand in Mexico and collaborate with the Mexican government's current approach to cross-border payments in the region. In the country, there are very few people who have access to bank accounts or credit cards, which means that alternative forms of fund transfer are welcomed. The Mexican government has already launched an initiative called Transfer, which also works with Mexican banks and corporations including....