Bitso, a Mexico-based cryptocurrency exchange, has announced a new partnership with Addem Capital, a debt fund offering financing options to start-ups and other companies The company announced that it has entered into a new partnership with Addem Capital, a debt fund that offers financing options to startups and other companies. Cryptocurrency exchanges will be able to accept cryptocurrency as part of their payment options by processing the fund’s payments and providing conversion capabilities.
Bitso partners with Addem Capital to allow Latam users to invest in crypto
Cryptocurrencies are increasingly being included in traditional financial structures, both globally and in Latam. The Latam-based exchange Bitso has announced a partnership with Addem Capital, a Mexican debt fund that allows startups to access funding structures. Commenting on the importance of these decentralized financing methods, Pedro Cetina, co-founder and managing partner of Addem Capital, said.
Cryptocurrencies and the DeFi protocol have the potential to be a driving force for financial inclusion in Latin America. Our model is inherently complex to operate, but cryptocurrencies will revolutionize the model we operate under.
According to Addem Capital’s vision, cryptocurrencies can grow the VC funding market for Latin American tech companies more – a market that reached $15 billion in 2021, according to a joint statement.
Bitso Functions
Bitso, a crypto exchange, functions as a payment provider, receiving cryptocurrency from investors and allowing Addem to convert it into fiat currency for its needs. This eases the compliance-related tasks that the Addem must fulfill by having the exchange perform Know Your Customer (KYC) and other related procedures.
Regarding Bitso’s vision for the use of crypto for these purposes, Carlos Lovera, Bitso’s Business Development Lead, stated.
We understand that cryptocurrencies will revolutionize various sectors and provide great opportunities for entrepreneurs to access investment tools and capital in a faster, simpler and more transparent way and to prosper their local development in the global economy.
Even during the current market downturn, Bitsaw is trying to increase opportunities for customers to grow their wealth in this highly inflationary era by launching new yield products that allow customers to earn income from storable coins and bitcoin deposits. However, the company has also been affected, laying off 80 of its 600 employees as part of its long-term business strategy.
Image credit:: Shutterstock, Pixabay, Wiki Commons
