Bitso Partners with Addem Capital to Provide Cryptocurrency Investment Tools in Latam – Bitcoin News

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Bitso, the Mexico-based cryptocurrency exchange, has announced a new partnership with Addem Capital, a debt fund that provides funding options for startups and other companies. The cryptocurrency exchange will process payments for the fund and provide conversion capabilities, allowing it to accept cryptocurrencies as part of its payment options.

Bitso partners with Addem Capital to enable Latin American users to invest in crypto

Cryptocurrencies are becoming more and more incorporated into traditional financial structures in the world and also in Latam. Bitso, a Latin American-based exchange, announced a partnership with Addem Capital, a Mexican debt fund that provides startups with access to financing structures. Explaining the importance of these decentralized funding methods, Pedro Cetina, co-founder and managing partner of Addem Capital said:

Cryptocurrencies and DeFi protocols have the potential to become an engine for financial inclusion in Latin America. Our model inherently has some operational complexity, cryptocurrencies are revolutionizing the model we work with.

According to Addem Capital’s vision, cryptocurrencies can help grow the VC funding market for tech companies in Latam – a market that hit $15 billion in 2021, according to a joint statement.


Bitso’s function

As a crypto exchange, Bitso will act as a payment provider, receiving cryptocurrencies from investors and allowing Addem to convert them into fiat currencies as needed. This facilitates the tasks Addem has to perform related to compliance, with the exchange taking care of KYC (Know Your Customer) and other related procedures.

On Bitso’s vision for using crypto for these purposes, Carlos Lovera, Head of Business Development at Bitso, stated:

We understand the great opportunity that cryptocurrencies offer us to revolutionize different sectors and give entrepreneurs faster, easier and more transparent access to investment tools and capital to enable their local development to thrive in a global economy.

Even during the current market downturn, Bitso has announced new yield products that allow its customers to earn income from their stablecoin and bitcoin deposits to provide customers with more opportunities to grow their wealth during these times of high inflation. However, the company is also affected by the situation and has laid off 80 of its 600 employees as part of its long-term business strategy.

What do you think about the partnership between Bitso and Addem Capital? Tell us in the comment section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late in the game and entered the cryptosphere when the price surge took place in December 2017. He has a computer engineer background, lives in Venezuela and is socially affected by the cryptocurrency boom. He offers a different take on crypto’s success and how it’s helping those who are unbanked and underserved.

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