Wednesday, May 29, 2024

Bitso, the Mexican crypto exchange, crosses the 1 million users milestone in Brazil.

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.

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
RELATED ARTICLES

Most Popular