Bitso says it doubled its Latin America buyer base up to now yr


20 October 2022 21:36, UTC


Studying time: ~2 m

Crypto change Bitso doubled its buyer base up to now yr to greater than 6 million clients in Latin America, citing elevated crypto adoption within the area.

Bitso relies in Mexico Metropolis and licensed in Gibraltar. The change operates in Argentina, Brazil, Colombia and Mexico. It now has about 1 million customers in Argentina and greater than 1 million in Brazil, a spokesperson instructed The Block.

Bitso laid off 80 members of its employees in late Could because the crypto winter began to set in, saying that the fast-paced crypto trade required it to “consistently remix” its high-value abilities. The corporate at the moment has 31 open jobs listed on its web site. Mercado Bitcoin father or mother 2TM and Buenbit additionally introduced layoffs this yr.

Bitso contended that it’s utilizing the down market cycle to construct new merchandise. The corporate has attracted 1 million of its clients to its Bitso+ characteristic, which advertises the flexibility to earn as much as 8% yields on the BTC, ETH and USDC already in clients’ wallets.

The change lately launched QR crypto funds in Argentina and is gearing as much as launch a brand new crypto card in Mexico with Mastercard that features cash-back rewards denominated in bitcoin.

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