Share this article
Mexican Bitcoin Exchange Bitso Acquires Competitor
Mexican bitcoin exchange Bitso has acquired competitor Unisend Mexico in an attempt to consolidate its market share in the region.
Updated Dec 10, 2022, 8:12 p.m. Published Jun 10, 2015, 12:02 p.m.
Make us preferred on Google
Mexican bitcoin exchange Bitso has acquired competitor Unisend Mexico in an attempt to consolidate its market share in the region.
A relatively small exchange, Bitso's trading volume in the last 24 hours stood at approximately $7,671 (33.4 BTC) – less than 1% of US exchange Coinbase, which had reached $1.34m at the time of press.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Speaking to CoinDesk, Pablo González, CEO at Bitso, said:
"Although we feel strongly that the market is on the verge of significant growth, right now it doesn't really make sense to have such a diffused effort. Consolidation makes sense at this point, in preparation for the huge potential that we see coming with remittance partners poised to begin activity over the bitcoin rail."
Bitso, which acquired Unisend Mexico for an undisclosed amount, will be taking on Jose Rodriguez, its former CEO, as vice president of payments.
Commenting on the acquisition, Rodriguez was confident the new team would accelerate growth and surpass competitors Volabit and Mexbthttps://mexbt.com/en/ to become the leading bitcoin exchange in the country.
Fomer Unisend customers will be migrated to Bitso, according to the pair.
Boom and bust
As previously reported by CoinDesk, Bitso launched an e-commerce platform and point-of-sale (POS) system, BitsoPagos in January this year.
Gonzalez, who said the bitcoin market is set to "boom", seemed positive about the digital currency's future, noting how it could help Mexico's remittance market and cross-border payments.
The merger follows the closure of various bitcoin exchanges including Canada's CARVITEX – later acquired by New York platform Coinsetter in April – and Vault of Satoshi.
Elsewhere, BTCXIndia shut down operations in May.
Disclaimer: CoinDesk founder Shakil Khan is an investor in BitPay.
Mexican flag 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
Bitcoin trader warns of downside as gold rally continues to pull focus from BTC
Crypto prices stabilized after an early-week dip, but bitcoin continued to trail gold and silver as macro trades dominated after the Fed’s policy hold.
What to know:
- Bitcoin hovered around $88,000 after the Federal Reserve left interest rates unchanged, with trading subdued despite modest gains in ether, solana, BNB and dogecoin.
- A sharp rebound in the U.S. dollar and continued strength in commodities, especially record-high gold and elevated silver and copper, have overshadowed crypto markets.
- Analysts say bitcoin is trading more like a high-beta risk asset than a macro hedge, stuck in a bearish consolidation about 30 percent below its October peak and struggling to break above key resistance near $89,000.
Top Stories
