Share this article
Bitcoin Opportunity Corp Backs Mexican Exchange Bitso
Bitso has closed a seed funding round led by the Barry Silbert-backed investment fund Bitcoin Opportunity Corp.
By Pete Rizzo
Updated Apr 10, 2024, 3:08 a.m. Published Jun 26, 2015, 9:31 p.m.
Make us preferred on Google
Bitso has closed a seed funding round led by the Barry Silbert-backed investment fund Bitcoin Opportunity Corp and including undisclosed angel investors.
Launched in April 2014, Bitso recently acquired competitor Unisend Mexico as part of a bid to strengthen its market presence. Today, the company primarily offers an order-book exchange and Ripple gateway as well as a merchant processing product.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
However, in statements, Silbert suggested that he sees the company's greatest asset as its position to help facilitate remittances to and from Mexico:
“Bitso is well-positioned to emerge as the region’s leader in bitcoin exchange and payments, and we are thrilled to partner with them to help build a big, important company in this emerging industry."
According to data from Pew Research Center, remittances to Mexico are estimated at $22bn in 2013, though such figures have fallen since a peak in 2006 due to the US housing market crash and a decline in the US immigrant population.
Mexico receives 40% of all remittances from Latin America, according to Pew data.
Mexico City image via Shutterstock
More For You
Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
More For You
HYPE token's 30% surge is a story of crypto-traditional market convergence, treasury firm says
HYPE has surged 30%, outperforming bitcoin, ether and the CoinDesk 20 index by a big margin.
What to know:
- Hyperliquid's HYPE token has surged more than 30% to $33, far outpacing bitcoin, ether and the broader crypto market, as trading activity on the platform accelerates.
- The token rally represents the merging of traditional assets with the crypto world, according to Hyperion DeFi, which is a HYPE treasury company.
- Originally a crypto perpetuals exchange, Hyperliquid has expanded into tokenized trading of equity indices, individual stocks, commodities and major fiat pairs via its HIP-3 upgrade.
Top Stories
