• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: Fed Holds Interest Rates Steady, Bitcoin Awaits Trend Reversal Above $27,000
Mexican Bitcoin Exchange Bitso Closes a Round of Funding
Sensei Inu Logo

Mexican Bitcoin Exchange Bitso Closes a Round of Funding

Gautham by Gautham
8 years ago
in Cryptocurrency Market News
Reading Time: 2 mins read

The Mexican bitcoin exchange Bitso which was recently in news for the acquisition of its competitor Unisend Mexico has emerged much stronger in the Mexican bitcoin market with the closure of its seed funding round. The company has raised money from Bitcoin Opportunity Corp., an investment fund backed by well-known entrepreneur and Bitcoin investor Barry Silbert. Few undisclosed angel investors have also invested in Bitso along with Bitcoin Opportunity Corp.

The potential for bitcoin market in Mexico is huge with estimated inward remittance of over $22 billion in the year in 2013 alone. Being one of the main strengths of the North American nation, Bitso’s position to facilitate these remittances to and from Mexico is considered as a big asset by Barry Silbert.

Bitso is currently offering order-book exchange service along with merchant payment processing and Ripple gateway. Founded in 2014, the company is now in a dominant position in Mexico. BitPagos, a product of Bitso is a robust ecommerce and point of sale system which processes both bitcoin and more traditional credit and debit cards like MasterCard, Visa etc.

Even though Bitso has got a strong presence in Mexico, the company still faces uncertainty due to the existing government regulations. According to a circular issued by the Central Bank of Mexico last year, bitcoin can’t be used to purchase or sell goods as it is not considered as a legal tender. The Federal Government of Mexico is yet to release the new set of regulations governing bitcoin and other digital assets, which it had announced along with the circular.

While most of the big players are playing in other international markets due to lack of clarity about the Mexican government’s stance on bitcoin, Bitso is busy building a solid customer base which may turn out to be a deciding factor in favour of the company when other players decide to enter the market.

Considering the bitcoin friendly outlook of United States and Canada, the probability of Mexico coming up with something similar is very high. In that case, Bitso will emerge as an uncontended champion in the region.

READ MORE: BitSo Acquires Opponent to Mousetrap Mexican Bitcoin Market

Tags: barry silbertbitcoinbitcoin opportunity corp.bitpagosbitsoexchangemexicoNewsseed funding
Tweet123Share196ShareSend
Gautham

Gautham

Related Posts

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

Wall Street Memes Enters Last Day of Presale Before Tier 1 Exchange Listing – Could This Be the Next Big Meme Coin?

6 hours ago
Spot

What The Drop In Spot And Derivatives Volumes Means For The Price Of Bitcoin

8 hours ago
Base

Explosive 6-Week Growth Sees Base Hit New Milestone

9 hours ago
5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

5 New Meme Coins to Watch: Wall Street Memes Could 10x on IEO, Meme Kombat Raises $50k

14 hours ago
Bitwise Ethereum ETF

Bitwise Withdraws Application, A Big Blow To Ethereum ETFs?

1 day ago
Unleash the Power of Crypto Cloud Mining: TopHash

Unleash the Power of Crypto Cloud Mining: TopHash

1 day ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Ibiza NXT 2023 – Heading toward a purpose-driven Web3...

    4 hours ago
  • The Financial Investment Expo Bangkok, Thailand

    5 hours ago
  • XRP Ledger Gets Massive Update, $XRP Pinned Below $0.55 As...

    7 hours ago
  • Recent BNB Updates: Investors Flock to Borroe.Finance and...

    9 hours ago
  • Bitcoin Metrics Show Long-Term Holders Refusing To Sell...

    10 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.