Jump to content
Sign in to follow this  
crypto_deus

Ripple's investment in Bitso

Recommended Posts

https://www.ripple.com/insights/our-investment-in-bitso/

In 2018, remittance flows into Latin America and the Caribbean increased by almost 10%, with Mexico receiving the largest amount of these payments in the region with over $35.7B transacted every year. Remittances are vital for the economy and an important source of financial support for many households in the region.

Ripple is excited to announce that we are leading an investment round in Bitso, the leading exchange in Latin America, and that Asheesh Birla is joining the board of directors.

This innovative company plays a vital role in RippleNet’s US – MXN corridor by providing critical liquidity for payments. Earlier this year, Ripple launched On-Demand Liquidity (ODL) capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner. As Ripple expands ODL in Latin America, so too will our partnership with Bitso. 

This innovative company plays a vital role in RippleNet’s US – MXN corridor by providing critical liquidity for payments. Earlier this year, Ripple launched On-Demand Liquidity (ODL) capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner.

Bitco is the largest exchange in Mexico with a customer base of 750,000 and counting. Bitso’s products have a strong focus on ease of use, which has helped drive the adoption of cryptocurrency among a broad audience including retail consumers, traders and institutional customers. 

Two months ago, Bitso became Latin America’s first DLT licensed exchange regulated by the Gibraltar Financial Services Commission (GFSC). With this license, Bitso is poised to be one of the most innovative and consumer-friendly financial services providers in LatAm. 

The Bitso team is unparalleled—their technology was built from the ground up through years of experience with scalable and reliable distributed systems.

Share this post


Link to post
Share on other sites
20 hours ago, lll_lll said:

Ripple and not xPring? I don't know if there is a difference and if it matters. Just an observation.

Ripple helping Bitso expand into Latin America, building ODL...good news story after good news story :)

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×
×
  • Create New...