Ripple announced investment in leading exchange in Latin America

Ripple’s partnership with Bitso started in 2014

Ripple announced investment in leading exchange in Latin America. Source: shutterstock.com

Ripple announced it is leading an investment round in Bitso, the leading exchange in Latin America, and that Ripple’s SVP of Product Asheesh Birla is joining the board of directors.

Ripple’s partnership with Bitso started in 2014. This company plays a vital role in RippleNet’s US – MXN corridor by providing critical liquidity for payments. Earlier this year, Ripple launched On-Demand Liquidity (ODL) capabilities with MoneyGram into Mexico, with Bitso as the key exchange partner. As Ripple expands ODL in Latin America, so too will its partnership with Bitso.

Launched in 2014, Bitso was the first cryptocurrency exchange in Mexico. Today, they are the largest exchange in Mexico with a customer base of 750,000 and counting. Bitso’s products have a strong focus on ease of use, which has helped drive the adoption of cryptocurrency among a broad audience including retail consumers, traders and institutional customers.

Two months ago, Bitso became Latin America’s first DLT licensed exchange regulated by the Gibraltar Financial Services Commission (GFSC).

SEE ALSO: How to track a bitcoin transaction

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