Bitso acquires competitor Unisend Mexico

Investing | June 12, 2015 By:

On Wednesday, June 10, Bitso has acquired competitor Unisend Mexico in an attempt to consolidate its market share in the region.

“Although we feel strongly that the market is on the verge of significant growth, right now it doesn’t really make sense to have such a diffused effort. Consolidation makes sense at this point, in preparation for the huge potential that we see coming with remittance partners poised to begin activity over the bitcoin rail,” said Bitso CEO Pablo Gonz├ílez.

Bitso, which acquired Unisend Mexico for an undisclosed amount, will be taking on Jose Rodriguez, its former CEO, as vice president of payments.

Fomer Unisend customers will be migrated to Bitso, according to the pair.

Bitso is a Mexican bitcoin exchange.