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