Bitso (legally Bitso, S.A.P.I. de C.V.) is a private financial services company and the leading cryptocurrency platform in Latin America. Founded on January 23, 2014, by Ben Peters and Pablo González in Mexico City, it later included Daniel Vogel as an equal partner in 2015.
Overview
- Operational Countries: Argentina, Brazil, Colombia, the United States, and Mexico.
- Services: Facilitates buying, selling, exchanging, and holding cryptocurrencies, along with payments, savings, and investment services.
- Business Division: Offers blockchain-based technology for enterprises, enabling transactions like payments to suppliers and process automation.
Bitso became the first regulated cryptocurrency platform in Latin America and the sixth globally to obtain a license from the Gibraltar Financial Services Commission (GFSC).
Key Statistics
- Users: Over 8 million in Latin America.
- Business Clients: More than 1,700 globally.
- Valuation: Achieved unicorn status in 2021 with a valuation of $2.2 billion.
Business Divisions
Retail Services
- Bitso App: Mobile application for secure and intuitive crypto transactions.
- Bitso Alpha: Advanced trading platform.
Business Services (B2B)
- International transfers.
- Payment disbursements.
- Enterprise blockchain solutions.
Supported Markets
Bitso supports direct markets in:
- Mexican pesos (CRIPTO/MXN)
- Argentine pesos (CRIPTO/ARS)
- Colombian pesos (CRIPTO/COL)
- Brazilian reals (CRIPTO/BRL)
- US dollars (CRIPTO/USD)
- Bitcoin pairs (CRIPTO/BTC)
Popular Cryptocurrencies
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
Gibraltar GFSC License
Bitso obtained the Distributed Ledger Technology (DLT) License from Gibraltar’s GFSC in July 2019. This license regulates:
- Cryptocurrency custody.
- Buying, sending, and withdrawing crypto assets.
Regulatory Principles
Gibraltar’s framework prioritizes:
- Client protection.
- System and fund security.
- Prescriptive (not descriptive) compliance.
Achievements and Recognition
- 2016: Daniel Vogel named "Innovator Under 35" by MIT Technology Review.
- 2019: Recognized as one of the 20 safest global crypto exchanges by ICO Rating.
- 2021: Reached unicorn status ($2.2B valuation).
- 2022: Featured in Líderes Mexicanos’ "300 Most Influential Leaders."
- 2023: Bárbara González Briseño (Bitso México) listed among Expansión’s "100 Most Powerful Women in Business."
Use Cases for Cryptocurrencies
- Online Purchases: Pay for goods/services.
- Remittances: Cross-border transfers.
- Investment: Hedge against inflation/devaluation.
- Business Payments: Supplier transactions.
Adoption in Latin America (2023)
- Top Countries: Brazil (9th), Argentina (15th), Mexico (16th).
- Transaction Volume: $8B annually via Bitso Business.
Donation Campaigns
2017 Puebla Earthquake Relief
- Initiative: #BitcoinAyudaAMéxico.
- Raised: 1.2M+ MXN (324 donations).
- Beneficiary: Mexican Red Cross.
2019 Women in STEM
- Partners: Donadora, Epic Queen.
- Goal: Encourage female participation in tech fields.
2023 Hurricane Otis Relief
- Action: User donations matched by Bitso.
- Recipient: Mexican Red Cross.
Sports Partnerships
- Club Tigres (2021): First crypto sponsor.
- Mexican National Football Team (2022): Official crypto partner.
- São Paulo FC (2022): Crypto-based ticket sales.
FAQ
1. Is Bitso regulated?
Yes, Bitso holds a DLT license from Gibraltar’s GFSC and complies with Mexico’s Fintech Law.
2. Which countries does Bitso serve?
Mexico, Argentina, Brazil, Colombia, and the U.S.
3. What cryptocurrencies can I trade on Bitso?
BTC, ETH, XRP, LTC, BCH, and more.
4. How secure is Bitso?
Ranked among the top 20 safest global exchanges (ICO Rating, 2019).
5. Can businesses use Bitso?
Yes, Bitso Business offers B2B solutions like international transfers.
6. Does Bitso support donations?
Yes, via crypto campaigns (e.g., disaster relief).