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§ Private Profile · Mexico City, Distrito Federal, Mexico
Cryptocurrency exchange for digital asset trading, remittances, and blockchain finance for individuals & businesses in Latin America.
Bitso is a cryptocurrency exchange and financial technology platform based in Mexico City, Mexico, that facilitates digital asset trading, cross-border remittances, and business payments across Latin America. The company serves a growing user base of over 12 million individual customers, traders, and corporate clients distributed across more than 15 countries, maintaining a strong presence in core markets like Argentina, Colombia, and Brazil. Operating as a fully regulated financial entity, the platform currently processes between $6 billion and $7 billion in annual United States-to-Mexico remittances, capturing over 10% of that specific market share. The exchange generates its primary revenue through trading fees and remittance processing for major digital assets including Bitcoin, Ethereum, and various stablecoins, backed by prominent venture capital firms such as QED Investors and Kaszek. Bitso was founded in 2014 by Daniel Vogel, Ben Peters, and Pablo Gonzalez.
Bitso has raised $315.0M across 3 funding rounds.
Key people at Bitso.
Bitso was founded in 2014 by Ben Peters (Co-founder and CTO) and Pablo Gonzalez (Co-founder and CDO).
Bitso has raised $315.0M in total across 3 funding rounds.
Key people at Bitso.
Bitso has raised $315.0M across 3 funding rounds. Most recently, it raised $250.0M Series C in May 2021.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2021 | $250M Series C | Tiger Global Management, Coatue | Addition, Base Partners, Bedrock Capital, Dragoneer Investment Group, DST Global, Ensemble VC, Founders Fund, Friále, Insignia Ventures Partners, Kaszek Ventures, Lionheart Ventures, QED Investors, Ribbit Capital, Riverwood Capital, Sequoia Capital, Y Combinator, Ashish Agrawal, Nicolas Berggruen, BOND, Pantera Capital, Paradigm, Valor Capital Group | Announced |
| Dec 1, 2020 | $62M Series B | Kaszek Ventures, QED Investors | Addition, Base Partners, Bedrock Capital, Dragoneer Investment Group, DST Global, Founders Fund, Ribbit Capital, Riverwood Capital, Sequoia Capital, Nicolas Berggruen, Coinbase Ventures, Pantera Capital | Announced |
| Sep 1, 2016 | $3M Series A | — | Blockchain Capital, Digital Currency Group, Sommet AB, George Burke, Vitalik Buterin | Announced |
Bitso is a leading cryptocurrency exchange platform and fintech company headquartered in Mexico City, founded in 2014. It operates as the largest digital asset exchange in Latin America, serving over 2.5 million users across more than 27 countries with products for buying, selling, trading, and earning yields on 100+ cryptocurrencies like Bitcoin, Ethereum, USDC, and USDT, as well as upcoming global stocks and ETFs.[1][3][4] Bitso solves key problems in the region, including high-cost and slow cross-border payments, by offering real-time, stablecoin-powered solutions for remittances, treasury management, local payments, and professional trading, bridging traditional finance with digital assets.[2][4] Its growth is evident in processing over $10 billion in transaction volume, achieving "crypto unicorn" status with a $2.2 billion valuation after a $250 million Series C round, and holding dominant market share (95% in Mexico, 60%+ in Argentina).[1][3]
Through its Bitso Business division, it targets enterprises with compliant, efficient platforms that reduce costs, speed up settlements without pre-funding, and enable local currency payouts, positioning it as a transformative force in LATAM fintech.[2]
Bitso was founded in 2014 in Mexico by a team addressing the need for seamless exchanges between physical fiat currencies and virtual cryptocurrencies amid rising transaction volumes in the nascent crypto space.[1][3][6] As one of Mexico's pioneering fintechs, it emerged from a vision to expand cryptocurrency adoption and redefine money in Latin America, starting with core trading features and quickly scaling to handle bitcoin and eight other assets.[1][3] Early traction came from securing regulatory licenses, such as from the Gibraltar Financial Services Commission as a DLT provider, and partnerships like Twilio for user verification via SMS and OTP to combat fraud during global expansion.[1][5] Pivotal moments include becoming LATAM's first crypto unicorn in a $250 million Series C that valued it at $2.2 billion, processing $1.2 billion in cross-border payments by 2020, and evolving into a full-suite platform with stablecoin infrastructure.[3]
Bitso rides the wave of cryptocurrency mainstreaming and stablecoin adoption in Latin America, where economic volatility, high remittance flows ($100B+ annually), and underbanked populations create demand for faster, cheaper alternatives to legacy systems like SWIFT.[2][3] Its timing aligns with global crypto maturation post-2020 bull runs and regulatory clarity in regions like Mexico and Argentina, enabling 60%+ market dominance and unicorn status.[1][3] Market forces favoring Bitso include blockchain's cost reductions (vs. traditional finance), real-time settlement tech, and enterprise shift to digital assets for treasury—exemplified by Ripple partnership moving billions in real-time payments.[2] It influences the ecosystem by pioneering compliant crypto infrastructure, fostering LATAM fintech growth (third most valuable regionally), and bridging TradFi with DeFi, inspiring competitors and attracting global capital.[1][2]
Bitso is poised to expand beyond crypto into global stocks/ETFs and deepen B2B stablecoin services, capitalizing on LATAM's digital finance boom and trends like tokenization, AI-driven trading, and CBDC integrations.[4][2] Regulatory tailwinds and partnerships (e.g., Ripple) will likely drive further volume growth, potentially pushing valuation higher amid rising institutional adoption. As crypto evolves from speculative to utility-driven, Bitso's infrastructure positions it to redefine borderless money in emerging markets—solidifying its role as LATAM's crypto gateway and a global fintech contender.[1][2][3]
Bitso was founded in 2014 by Ben Peters (Co-founder and CTO) and Pablo Gonzalez (Co-founder and CDO).
Bitso has raised $315.0M in total across 3 funding rounds.
Bitso's investors include Tiger Global Management, Coatue, Addition, Base Partners, Bedrock Capital, Dragoneer Investment Group, DST Global, Ensemble VC, Founders Fund, Friále, Insignia Ventures Partners, Kaszek Ventures.