Bitcoin exchanges attract a lot of attention from the financial sector these days. Although a lot of experts feel there is a need for stricter regulation, the industry provides some exciting opportunities. Bitso, a Bitcoin exchange operating in Mexico, has US$2.5m to expand their activities in the country. The majority of this fundraising comes from established financial players, which is an exciting development.
Bitso Raises US$2.5m Out of The Blue
Until the announcement was made public a few hours ago, not too many people had any idea about this new deal for Bitso. Despite keeping things under wraps, the Bitcoin exchange raised US$2.5m from several investors. Among the participants is Monex Group, which is a major player in the foreign exchange business.
Having piqued the interest from such a prominent forex player is a big boon for Bitso. The company wants to use Monex Group’s expertise to expand the services on an international level. Although Bitso has seen its fair share of success in Mexico, the company has plans to serve other countries in Latin America as well.
That is not entirely surprising, considering how many Latin American nations are struggling with their economy. Bitcoin provides consumers and enterprises with an alternative way to hedge against financial turmoil, even though the price per BTC is far from stable. Many people value this alternative investment option, particularly because it is not linked to traditional finance.
Digital Currency Group is also on the list of investors, although this will hardly surprise anyone these days. The company has been making strategic investments in promising Bitcoin and blockchain companies for quite some time now. Bitcoin Capital, FundersClub, and other companies were part of this round of funding as well.
It is evident for everyone to see Bitcoin and cryptocurrency play a big role when it comes to financial inclusion for the unbanked and underbanked. With no prior requirements, anyone can get involved in Bitcoin, even without making a prior investment into the currency itself. It is the only global currency the world has to offer right now that is both easy to store and hassle-free to transfer.
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