Mark Weaden
Bitso, one of the leading Mexican-based cryptocurrency exchanges, has confirmed that they inked a deal with Addem Captial, debt funds providing innovative new business with financial backing.
The Mexican exchange will provide conversion functions and complete payments, allowing it to accept digital currency as a payment method. The purpose of doing this was to cater to the desires of Bitso’s userbase.
Growing Demand For Crypto Payment Options
The growth of cryptocurrency in the Latam area has led to an increase in companies demanding digital payment options for purchasing goods and services. The partnership comes at the perfect time as Bitso is investing heavily in sponsorships and increasing its reach.
On the deal, Pedro Cetina, the co-founder and managing partner of Addem Capital stated that “Cryptocurrencies and DeFi protocols have the potential to become a driver for financial inclusion in Latin America. Our model intrinsically has some operational complexity, cryptocurrencies come to revolutionize the model through which we operate.”
Addem Capital have a clear vision for the future and sees cryptocurrency as a way to encourage VC funding with the goal of aiding in the growth of tech companies on the continent.
How Will Bitso Help?
Bitso has a fully functioning payment system, providing payments and receiving funds from investors. From there, Addem capital will be able to convert the investments into fiat currencies, as and where necessary.
Another major benefit is the fact that Bitso’s built-in KYC system will take care of all the administrative procedures, something that would be costly and time-consuming for Addem Capital to handle alone.
Bitso’s business development leader, Carlos Lovera, had this to say about the deal “We understand the great opportunity that cryptocurrencies offer us to revolutionize various sectors, giving entrepreneurs access to investment tools and capital in a faster, simpler and more transparent way, allowing their local development to prosper in a global economy.”
Bitso’s team are confident of their ability to facilitate payments for Addem Capital and given their recent success, you can see why. The partnership has the potential to seek out new opportunities that can be beneficial for the growth and development of both parties.
