Ripple is announcing an investment round in Bitso, the top crypto exchange in Latin America.
Bitso is the crypto pioneer in Mexico. Today, it is the largest cryptocurrency exchange in Mexico with a user base of 750,000 and counting.
Ripple in its announcement states Bitso plays "a vital role in RippleNet’s US – MXN corridor by providing critical liquidity for payments."
"In 2018, remittance flows into Latin America and the Caribbean increased by almost 10%, with Mexico receiving the largest amount of these payments in the region with over $35.7B transacted every year," states the official announcement.
Earlier iHodl reported that Ripple acquired cryptocurrency startup Logos, a crypto-payments solution focused on speed and scalability. Moreover, Ripple's investment initiative Xpring in cooperation with Blockchain Finance Fund invested $1.5 million in Coinme, cryptocurrency kiosks and blockchain financial services company.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.