Bitso, a Mexico-based crypto exchange, has joined Addem Capital in a new partnership. The crypto exchange will process payments and provide conversion functions for its new partner – Addem Capital.
Pedro Cetina, the co-founder and managing partner of Addem Capital, believes that cryptocurrencies and DeFi protocols have the potential to become a driver for financial inclusion in Latin America. Centina revealed that their model intrinsically has some operational complexity. Cryptocurrencies revolutionize the model through which Addem Capital operates.
Cryptocurrencies, according to Addem Capital, can make the VC funding market for tech companies in the Latin American region grow more. Latam crypto market had reached $15 billion in 2021.
Through the partnership, Bitso will act as a payments provider – receiving the cryptocurrencies from investors and helping Addem Capital convert them to fiat currencies depending on its needs. It will ease Addem’s need to fulfill all the compliance that normally has to be done. The crypto exchange will handle the KYC (Know Your Customer) and other related procedures.
Carlos Lovera, the business development leader at Bitso, said the platform understands the great opportunity that cryptocurrencies offer to revolutionize various sectors. It gives entrepreneurs access to investment tools and capital in a faster, simpler, and more transparent way. Furthermore, digital assets allow their local development to prosper in a global economy.
Bitso has come up with new yield products to enable its customers to receive an income with their stablecoin and Bitcoin deposits. The platform wants to offer more opportunities for customers to boost their wealth during these high inflation times.