Bitso crypto exchange reaches the “Unicorn” status
The Argentine cryptocurrency platform reached a market valuation of 2,200 million dollars, thus becoming the first firm of its kind to reach that milestone
Bitso, the largest Argentine cryptocurrency platform in Latin America by volume, has reached a market valuation of 2,200 million dollars, becoming the first Latin American cryptocurrency firm to achieve the status of “unicorn” by exceeding 1,000 million dollars of capitalization.
The company’s new valuation follows a $ 250 million ‘Series C‘ funding round led by Tiger Global and Coatue.
For his part, Coatue’s general partner, Michael Gilroy, highlighted that Bitso “is the first platform with scalable compliance systems that allows consumers throughout Latin America to access the crypto economy.”
“We believe that access to this financial product has the potential to change the rules of the game in Latin America and we look forward to supporting the Bitso team in its mission to expand access to cryptocurrencies for everyone”, Gilroy said.
Bitso CEO, Daniel Vogel, highlighted the growth of the cryptocurrency ecosystem this year. “Bitso took six years to get its first million clients. Today, less than ten months later, we have surpassed 2 million users.”
Currently, the firm has a presence in Argentina, Mexico and Brazil, where it launched its operation last week. “This round will be used to expand our capabilities, our product offering and to continue to make cryptocurrencies useful throughout Latin America”, Vogel added.
K. Tovar
Source: dpa
