Bitso raises over $1.95m

Investing | May 6, 2016 By:

Bitso announced it has managed to raise $1,952,182 from 58 backers to provide better remittance solutions in Mexico.

Bitso co-founder and president Daniel Vogel said that the company is one of the few startups attempting to build-up the blockchain infrastructure in Mexico “so that the country is fully prepared for the future of finance.”

Bitso is hoping to bring the benefits of bitcoin’s global payment network to Mexico’s underbanked/unbanked population, which according to Vogel, amounts to roughly 55% of the entire population, “Only 45% of Mexicans have bank accounts and of those barely half have access to formal credit.” he adds.

Bitso is a Mexico-based bitcoin exchange.