The LSE Directory / Crypto exchanges
Bitso is a Mexico City based cryptocurrency exchange and financial app that lets retail users in Latin America buy, sell, and hold cryptocurrencies such as Bitcoin, Ethereum, and XRP against local fiat currencies, primarily the Mexican peso. Beyond spot trading, the app has grown into a broader financial platform offering yield on stablecoin and crypto holdings, access to more than 5,000 US listed stocks and ETFs through its Global Stocks product, and a Bitso branded payment card, positioning the company as a single app for saving, investing, and spending rather than a pure crypto exchange. The company's core differentiator is its focus on cross-border payments between the United States and Latin America. Bitso has been Ripple's primary On-Demand Liquidity partner in the region since 2019, using crypto rails, first XRP and increasingly its own peso backed stablecoin MXNB, to settle US to Mexico remittances faster and more cheaply than traditional wire transfers; the company disclosed processing $3.3 billion through this corridor in 2022. Its B2B arm, Bitso Business, targets banks, fintechs, and global enterprises that need to pay and get paid in Latin American currencies, competing less with retail exchanges and more with cross-border payments infrastructure providers. It holds a Distributed Ledger Technology license from Gibraltar's Financial Services Commission, obtained in July 2019, and is regulated in Mexico as an Electronic Payment Fund Institution (IFPE) under the country's Fintech Law, credentials the company presents as making it one of the few fully regulated crypto platforms in the region. Bitso was founded in January 2014 in Mexico City by Pablo Gonzalez and Ben Peters; Daniel Vogel joined as an equal co-founder in 2015 and now serves as CEO, with Peters as CTO. The company raised a $250 million Series C in May 2021, co-led by Tiger Global and Coatue with participation from Paradigm, BOND, and existing investors QED, Pantera Capital, and Kaszek, at a $2.2 billion valuation that made it Latin America's first crypto unicorn. As of mid-2026 the company describes itself as serving more than 10 million users and over 2,000 institutional clients across eight countries spanning Latin America, the United States, and Europe. In 2025 and 2026 Bitso pushed further into payments infrastructure. Bitso Business said its annualized total payment volume surpassed $80 billion by the end of 2025, which it describes as the first stablecoin payments platform in Latin America to reach that scale, with $15.6 billion of that volume settled inside Mexico alone. In June 2026, Bitso expanded its Ripple partnership to integrate MXNB into Ripple's Permissioned DEX infrastructure alongside Ripple's own RLUSD stablecoin, aimed at deepening liquidity in the US-Mexico settlement corridor.
