What Bitcoin consolidation in Mexico tells us about the industry

fortune.com / Daniel Roberts / JUNE 10, 2015, 1:42 PM EDT

Bitso buys competitor Unisend in an effort to corner the Mexico market.

It’s a small deal that is a sign of a larger trend: Mexican bitcoin exchange Bitso has acquired another, smaller Mexican bitcoin exchange, Unisend. The value of the deal has not been shared.

Bitso, the larger of the two parties, is still a very small operation. As bitcoin news site Coindesk reports, Bitso’s trading volume in the last 24 hours amounted to 33.4 BTC—less than $10,000 worth of bitcoin—which is less than 1% the size of the leading U.S. bitcoin exchange, Coinbase.