Mexican Exchange Bitso Raises $2.5M for Expansion

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Mexico’s first Bitcoin exchange, Bitso, announced that it has raised $2.5 million in venture capital. The company, founded in 2014, has now raised a total of $4.35 million, becoming the dominant cryptocurrency provider in the Latin American region.

Also read: Spain Wants to Tax Bitcoin Miners 47%

Mexico’s First Bitcoin Exchange Bitso Raises $2.5M in Series A Funding

bitso Bitso was the first exchange that enabled bitcoin for pesos trading within Mexican borders. Founded by Ben Peters, Daniel Vogel, and Pablo Gonzalez, the company offers a traditional type of currency exchange with a limited order book. The central limit order book uses the Ripple network to validate transactions.

The latest Series A funding round of $2.5 million came from groups such as Variv Capital, the Monex Group, FundersClub, and Digital Currency Group. Bitso plans to use the capital injection to expand its resources

Read more ... source: TheBitcoinNews

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