Mexican Exchange Bitso Raises $250M in Series C

According to Bitso, it’s the first digital asset company in the region to exceed a $1 billion valuation.

article-image

Mexico City; Source: Shutterstock

share

key takeaways

  • Bitso, the largest cryptocurrency exchange in Latin America, is now valued at $2.2 billion
  • Investment firms Tiger Global and Coatue led the funding round, which comes shortly after Bitso’s December 2020 $62 million Series B

Bitso, the largest cryptocurrency exchange in Latin America, has raised $150 million in a Series C round, valuing the company at $2.2 billion. According to the exchange, it’s the first digital asset company in the region to exceed a $1 billion valuation. 

Investment firms Tiger Global and Coatue led the funding round, which comes shortly after Bitso’s December 2020 $62 million Series B. Other investors include Paradigm, Valor Capital Group, QED, Pantera Capital and Kaszek. 

Mexico-based Bitso, founded in 2014, offers cryptocurrency products and services to clients across Mexico, Brazil and Argentina. Services include a retail exchange with eight different cryptocurrencies available to trade and an institutional-grade exchange. 

Bitso has had a successful year so far. The company announced that it more than doubled the assets on its platform over the last five months. Additionally, its transacting volume during the 2021 first quarter exceeded that for all of 2020. 

In January 2021, Bitso became one of nine firms approved by Colombian officials to be included in its fintech regulatory testing environment. 

Bitso claims it currently dominates the Latin American crypto market with a 95% market share in Mexico and a more than 60% market share in Argentina. 

California-based Ripple led an investment round in Bitso in 2019. 

“The Bitso team is unparalleled—their technology was built from the ground up through years of experience with scalable and reliable distributed systems,” Ripple said in its investment announcement. “The company and team are well positioned to execute a global expansion to LatAm and we are excited to partner with them in this next phase of growth.”

Tags

Upcoming Events

Industry City | Brooklyn, NY

TUES - THURS, JUNE 24 - 26, 2025

Permissionless IV serves as the definitive gathering for crypto’s technical founders, developers, and builders to come together and create the future.If you’re ready to shape the future of crypto, Permissionless IV is where it happens.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates (5).png

Research

Outside of stablecoins, the value of tokenized assets sits below $20B, dominated by the following asset classes: private credit, US Treasuries, commodities, institutional alternative funds, stocks, non-US government debt, and corporate bonds. In the coming months, we see the greatest opportunities in the tokenization of illiquid markets, particularly private equity. However, the successful integration of offchain assets into blockchain ecosystems relies heavily on clear and consistent regulatory frameworks, with purpose-built infrastructure to support it.

article-image

The MicroStrategy founder understood digital scarcity long before Bitcoin, and it’s a story of bubbles, brokers and a “monster bull run.”

article-image

DAS panelists shared strong venture capital takeaways, from how big a raise should be to the role VCs play in the industry

article-image

Titan Exchange CEO Chris Chung says Titan bests Solana’s incumbent DEX aggregator Jupiter on price 80% of the time

article-image

The SEC’s newest statement on PoW mining adds further clarity, though a commissioner points out its limits

article-image

Markets react to Fed Chair Jerome Powell’s comments at yesterday’s FOMC meeting

article-image

At DAS, the US president noted he’s called upon Congress to enact “simple, common-sense rules” for stablecoins and market structure