Ripple has shared the news that it is making an investment in the Mexico-based Bitso crypto exchange, largest in Latin America.
The amount of the investment is not disclosed, however, another detail has been shared – Ripple’s senior Vice President of Product, Asheesh Birla, the author of the blog post with the news, is joining Bitso’s board of directors.
Earlier this year, Ripple, with its recently acquired MoneyGram, collaborated with Bitso on launching Ripple’s new product, On-Demand Liquidity, in Mexico. The crypto exchange was the key partner in that venture.
Bitso has received a license from the Gibraltar Financial Services Commission (GFSC), so Ripple, which largely supports crypto regulation measures, considers it a promising partner to work with.
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