- Employees: 10
- Year founded: 2014
Bitso is a currency exchange offering a bridge for participants to connect between novel financial platforms, like Bitcoin and Ether, and the Mexican Peso.
Our advanced banking integrations, best practice security standards, and strong focus on regulatory compliance, make Bitso the de facto choice for Bitcoin and Ether operations in the country.
Advanced APIs allow our consumers to programmatically interact with our systems, automate their operations, and build applications on top of our services. Our customers range from Mexican nationals wishing to invest in bitcoin through corporations looking to ease cross-border payment pains.
There are a number of Bitcoin exchanges around the world, but few are as well-placed as Bitso. Mexico is the endpoint of the largest remittance corridor in the world (originating in the U.S.); one that in 2015 was reported at over $25 billion USD and expected to keep growing. The 15th largest economy in the world, Mexico has free trade agreements with 46 countries. 2014 exports amounted to over $405 billion USD, imports to over $407 billion.
Mexico’s vibrant citizens are young (median age is 27 years), well communicated (mobile subscription penetration is over 91%), and have growing access to internet (penetration in 2014 was 43% with 15% growth). This makes Mexico an excellent candidate to migrate towards faster, safer, and cheaper cross-border payments that leverage state of the art technology.
We are strongly driven by a desire to improve the inefficient business models of remittance companies, and have witnessed first-hand the disproportionately high fees paid by underprivileged Mexicans living in the US who send aid money home. Our hope is to make a positive impact in this space – a social mission which is our single biggest motivator. We are committed to forging the foundation for a new cryptocurrency economy in Mexico – one that can transform remittances and make truly frictionless international commerce a possibility.
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