Bitso Says Fresh $250M Makes It LatAm's Top Crypto Biz

Law360 (May 5, 2021, 5:14 PM EDT) -- Latin American cryptocurrency company Bitso said Wednesday it raised $250 million and achieved a $2.2 billion valuation, making it the region's first billion-dollar cryptocurrency business.

Bitso, which has customers in Mexico and Argentina and recently launched in Brazil, allows users to buy, sell and store cryptocurrencies using its platform. The company touts its regulatory compliance, noting it has a distributed ledger technology license from Gibraltar's Financial Services Commission and says it offers crypto-insurance for client funds.

Co-founder and CEO Daniel Vogel said the company has seen a rapid uptick in adoption in the last year.

"It took Bitso six years to...

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