Bitso is a Mexican cryptocurrency exchange. It has recently formed a strategic partnership with Addem Capital, a debt fund providing companies and startups with financing options. As a result of the collaboration, the cryptocurrency exchange will offer conversion functions and process payments for the fund. Consequently, Addem Capital will accept cryptocurrencies as one of the many payment options.
Traditional financial structures worldwide are now moving towards cryptocurrencies. Latin America is also in the pursuit of getting into the crypto industry. Bitso is primarily a latam-based cryptocurrency exchange. The partnership with Addem Capital will seemingly provide opportunities for both entities to excel.
Pedro Cetina, the co-founder of Addem Capital, stated the importance of these decentralized finance methods and that cryptocurrencies and decentralized finance will likely become the driver for financial inclusion in Latin America. He further noted that the model on which Addem Capital is working has operational complexity. He believes that cryptocurrencies will revolutionaize the model.
Cetina also believes that the Venture Capital funding market will grow exponentially for tech companies through cryptocurrencies. He stated that the market reached the cap of $15 billion in 2021 and will grow in the years to come.
In the partnership, Bitso has a key role to play. Bitso will act as a payment provider. It will receive payments in cryptocurrencies from the investors and allow Addem Capital to convert them into fiat currencies as per the needs. Such a partnership will ease the operation of Addem Capital as far as compliance is concerned since Bitso will take care of KYC (Know Your Customers) and other related aspects.
The business development leader at Bitso, Carlos Lovera, said that cryptocurrencies provide ample opportunities to revolutionize numerous sectors. He added that entrepreneurs would have simpler, faster, and more transparent access to investment tools through cryptocurrencies. Consequently, the local development will ultimately lead to a prosperous global economy.
Despite the crypto crash gloom, Bitso has promised new yield products that will allow the customers to receive an income with their bitcoin deposits and respective stablecoins. As a result, the wealth of the customers will increase irrespective of the high inflation in the country.