← State of Embedded Finance 2026

Azteco

Can a voucher-based distribution model make bitcoin accessible to the unbanked at scale, globally, without KYC friction at the point of redemption?

HQSanta Monica, CA 90404, USA
FoundersPaul Ferguson
Total raised$6M
Latest roundSeed, 2023
IndustryFintech / Crypto
The story

Azteco operates as a bitcoin voucher distribution platform — functionally analogous to prepaid gift cards — targeting unbanked and underbanked populations globally. The company has expanded from a primarily online model to a multi-channel approach (over-the-counter, handheld POS terminals, and online) and moved aggressively into Latin America in 2023 via a partnership with SafetyPay for cash and local payment acceptance. Rather than being a crypto exchange or wallet, Azteco's embedded finance angle is the voucher-as-on-ramp model: distributing bitcoin access through a reseller network without requiring users to hold accounts.

Last 12 months
2023-05
2023-08
Product timeline
2023
Raised $6M seed round led by Jack Dorsey to expand bitcoin voucher distribution globally.· banking
2023
Launched bitcoin vouchers in Brazil, Mexico, Chile, Colombia, Costa Rica, and Peru via SafetyPay partnership.· pivot
2023
Introduced Sumsub-powered identity verification for customers in Latin American markets.· banking
The stack
Payments / PSP
SafetyPay
Crypto
Runa
Accounting gap: none