Ripple Partner Bitso Becomes First Crypto Unicorn in Latin America
Yuri Molchan
Ripple partner in spreading ODL technology in Latin America becomes the region’s first crypto unicorn after closing a major funding round
News
Wed, 05/05/2021 - 13:59
Cover image via stock.adobe.com
Forbes has reported that Mexico-based digital exchange Bitso, which received an investment from the Ripple giant back in October 2019, has turned into the first crypto unicorn in Latin America.
Now, the market capitalization of the exchange has surpassed $2.2 billion after it secured $250 million in a Series C investment round.
Image via Twitter
The Series C funding round was led by Coatue and Tiger Global giants. The current valuation of $2.2 billion has made it one of the biggest fintechs in Latin America but the only crypto unicorn there so far.
Last year, the company received $62 million in a Series B round of investment.
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.