Bitso, a Mexican crypto exchange, recently reached a landmark milestone in which they reached 1 million users in July. They started operations last year and according to the company they hit the 1 million mark, earlier than they were expecting.
Even though the world of crypto has been in turmoil, Bitso shows no signs of slowing down. Starting in 2014, they got a $250 million investment in May 2021. After which the platform was valued at $2.2 billion even before they started operations in Brazil.
Thales Freitas had taken command of the reins only 3 months ago. His main goal was to lead the company through volatility with the high-interest rates. Even with the crypto prices crashing all over the world, he was able to get the company to the 1 million mark with relative ease.
To overcome such things and gain the trust of people, Bitso offered 15% per year on stablecoins. This helped bolster their trustworthiness and credit amongst the people. With the market giving less than optimal returns to the people, many people have switched to crypto. They have partnered with Banco Genial and the Starkbank and are looking to get approval for their payment institution.
With Latin America joining in on the crypto frenzy right now is the best time to add some to your portfolio. Not only will you get great returns but also have an investment that has been performing great. Even though the market is a bit down, it is a great long-term investment.