← State of Embedded Finance 2026

Bitso

Can a LatAm crypto exchange become the dominant stablecoin-to-local-rails payments infrastructure for the region?

Founded2014
HQMexico City, Mexico
Total raised~$331M+
Latest roundSeries C, 2021
Valuation$2.2B (2021)
IndustryFintech / Crypto
The story

Founded 2014 as a retail crypto exchange dominant in Mexico (95%+ share), Bitso evolved into a crypto-powered financial services company processing remittances from the US to Mexico. Bitso Business — the B2B arm — pivoted the company into cross-border payments infrastructure, embedding stablecoin rails (USDC, USDT, MXNB, BRL1) into a multi-currency account and FX-as-a-Service API for fintechs and PSPs. Today it positions itself as the LatAm-native stablecoin-to-local-rails (SPEI, Pix, PSE, CVU/CBU) infrastructure layer.

Last 12 months
2025-08
2025-09
2025-10
2025
Product timeline
2014
Bitso founded in Mexico City as crypto exchange· pivot
2020
Launched in Brazil; processed over $1.2B in international payments· banking
2021
Reached unicorn status with $250M Series C at $2.2B valuation· ipo
2023
Integrated with Stellar network to expand cross-border corridors LatAm-Europe· banking
2025
Bitso Business partners with BVNK for stablecoin-powered faster payments across Europe and LatAm· banking
2025
Clara x Bitso Business launch stablecoin-backed corporate cards in LatAm· card
Regulated entities
DLT license
Gibraltar (GFSC)
Bitso International
Payment Institution
Brazil (Central Bank)
Nvio Brasil Bitso Instituição de Pagamento Ltda.
PSPCP (payment accounts)
Argentina (Central Bank)
Nvio Pagos Argentina S.A.U.
Payment Institution (SPEI)
Mexico
NVIO México
The stack
Payments / PSP
Bitso Business Pay-ins/Payouts (self-operated)SPEI via NVIO México (in-house)Pix via Nvio Brasil (in-house)PSE Colombia (self-operated)CVU/CBU Argentina via Nvio Pagos (in-house)
Banking / BaaS
Bitso Business Multi-Currency Account (in-house via Nvio entities)
Lending
OTC Desk credit line
FX & payouts
Bitso Business FX-as-a-Service (in-house)Bitso Business Mass Payouts (self-operated)
Crypto
Bitso (self-operated exchange and stablecoin rails)BVNK (stablecoin payments partner for Europe-LatAm corridor)Stellar (network integration for cross-border)Fireblocks
Accounting gap: none