Bitso is Mexican cryptocurrency exchange that offers a platform for trading of BTC, ETH and other altcoins with the Mexican peso and vice versa. The Bitso exchange was founded by Ben Peters, Daniel Vogel and Pablo Gonzalez in 2014. For deposits and withdrawals, Bitso uses the Ripple payment gateway. Besides the desktop version, the platform also offers a Bitso app for the buying, selling, sending and receiving of cryptocurrency via mobile devices. Bitso and Bitcoin are very popular among Mexican citizens, as the Mexican peso’s price has reduced dramatically relatively to the U.S. dollar. Besides this, more than half of the Mexican population do not have bank accounts, so platforms like this help them keep money away from volatility with low Bitso fees.
Bitcoin’s 150% gains over the last two years in Argentine pesos is no match for the country’s 300% inflation in the period.
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Previous crypto bear markets triggered much bigger layoffs, with some firms like ConsenSys reportedly firing up to 60% of its workforce in 2018.
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The Mexican Bitso exchange has been providing its custody and exchange services to Chivo so that the government of El Salvador can buy Bitcoin.
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Founded in 2014 in Mexico, Bitso is now officially present in Argentina, Brazil, El Salvador and Colombia.
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Crypto-facilitated cross-border payments services are gaining traction in Latin America — a region that has become a hotbed for the cryptocurrency industry.
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The company is pushing new use cases for blockchain payments through its partnerships with Bitso and Stellar Development Foundation.
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