Tiger Global and Coatue co-led the round, which also included participation from Paradigm, BOND and Valor Capital Group, and existing backers QED, Pantera Capital, and Kaszek.
Bitso says its product offerings fit the needs of local customers in Mexico, Argentina and now Brazil, where it just launched its retail operations. The company plans to use its new capital toward broadening its capabilities and product offering. It also plans to expand its operations in other Latin American countries in the coming months. In January, the Financial Superintendence of Colombia announced Bitso as one of the authorised companies in its Sandbox and crypto pilot program.
Bitso’s upcoming products include a crypto derivatives platform and interest-bearing accounts for crypto.
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