This article is from es.cointelegraph.com and the original article can be read here
Bitso announced that continues its expansion strategy in the region to boost the use of crypto in countries with high adoption rates in Latin America, specifically in Colombia. The company is considered a crypto unicorn”, has a market value of USD 2,200 million and last year raised USD 250 million in an investment round.
According to the report “Chainalysis Cryptocurrency Geography for 2021”, the value of cryptocurrencies received by Latin America was USD 352.8 billion between July 2020 and June 2021. The region accounts for approximately 9% of global transactional activity, a figure that only shows a small portion of the potential that the region may have in terms of cryptocurrency adoption. The Chainalysis study positioned Colombia as the third country with the highest adoption of crypto in the region and eleventh in the world. Colombia also gave impetus to a pilot project created by the Financial Superintendence of Colombia (“SFC”), in which the authority developed a joint test space in terms of cryptocurrencies between the digital ecosystem and the National Government. This project led Bitso to put a strong focus on this country as well, being part of the pilot test and today it has formally started operations in that country.
“We are proud to be able to expand our operations and offer our services to all Colombians“, expressed Daniel Vogel, CEO and Co-founder of Bitso. “Currently, approximately USD 70,000 per month in crypto are traded in Colombia, which demonstrates the great acceleration that this market has had in recent years, and the need to diversify financial options.“, he added. In this sense, last week, the CEO of the company met with the Colombian president, Iván Duque Márquez. As could be seen on social networks, they were talking about Bitcoin, cryptocurrencies and NFT.
Thank you for having us President @ivanduque. It was an honor to talk with you about #bitcoin, #crypto, #NFTs sustainability and about #Colombia 🇨🇴 as a center of innovation in the region.
It’s been exciting for @Bitso participate in the sandbox. Now it’s time to accelerate 👀🇨🇴 pic.twitter.com/pUbqDLRGC5
— Daniel Vogel (@vogelbit) May 16, 2022
The opening of the Colombian market adds to various initiatives carried out by Bitso in the region and in Argentina to boost your business, including the recent launch of Bitso+.
A key factor that is giving more certainty to Latin American users of cryptocurrencies is the regulatory advances in the matter, since in this way user funds can be secured in this new financial technology. At the moment, the company operates under the Distributed Ledger Technology license, granted by the Financial Services Commission of Gibraltar which requires the adoption of international standards in cybersecurity PLD/CFT and protection of funds for all its clients.
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