Bitso

What Bitso does

Bitso is a Latin America-focused regulated cryptocurrency exchange founded in 2014 and headquartered in Mexico City, operating a multi-product platform that combines a unified consumer app, a B2B infrastructure division (Bitso Business), and an independent self-custody onchain trading terminal (onchain.cc, operated via Nvio Pagos El Salvador). Its core products include spot trading across 100+ cryptocurrencies with local-currency fiat rails (SPEI in Mexico, PIX in Brazil, COELSA in Argentina, Colombian bank transfers), US stock and ETF investing (5,000+ instruments via Alpaca integration in Mexico and Payward's xStocks framework in Argentina), Bitso Transfer for cross-border USD/crypto remittances, and Bitso Earnings for weekly yield on idle crypto balances. Bitso Business provides custody, conversion, and settlement backbone for stablecoin-based cross-border payments to corporates, fintechs, and merchants, with annual TPV on track to surpass $82B in 2025.

The company holds Virtual Asset Service Provider licensing across Mexico (Fintech Law), Argentina (CNV-registered PSAV), Brazil, Colombia, the US, Europe, and El Salvador, where its subsidiary Juno received CNAD approval in May 2026 to issue MXNB, the first Latin American currency-backed stablecoin under national regulation. Bitso's onchain.cc terminal aggregates spot, perpetuals (up to 40x leverage via Hyperliquid across 300+ markets), and Trenches memecoin snipes across 14+ chains with sub-400ms execution and proprietary Carbium/LiFi routing. Revenue is generated primarily through maker-taker transaction fees (0.04-0.78% volume-tiered), crypto withdrawal network fees, B2B stablecoin payment infrastructure fees, FXaaS usage-based pricing, onchain.cc flat 0.15% trading fees, yield spread on earnings products, and tokenized-asset listing/trading fees.

Bitso serves approximately 9-10 million retail customers across Argentina, Brazil, Colombia, Mexico, Chile, and Peru, alongside 2,000+ institutional clients. The company raised a $250M Series C in May 2021 at a $2.2B post-money valuation led by Coatue and Tiger Global, with participation from Paradigm, Pantera Capital, QED Investors, Bond, and Y Combinator, and counts itself among Mexico's six unicorns. The platform's strategic priorities have shifted toward regulated stablecoin infrastructure, tokenized real-world assets, and B2B payments rails, exemplified by the MXNB/RLUSD settlement rail on the XRP Ledger Permissioned DEX and Mastercard's Agent Pay for Machines integration.

Name

Bitso

Legal name

The Badger Technology Company Limited

Website

https://bitso.com

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Bitso is a Mexico City-headquartered, LATAM-focused regulated cryptocurrency exchange serving 9-10 million retail customers and 2,000+ institutional clients across six Latin American markets with spot trading, US stock access, cross-border transfers, stablecoin payments infrastructure, and a regulated Mexican peso stablecoin (MXNB).

Ownership category

akta.pro rank

Product category

Cryptocurrency Exchange and Digital Asset Platform

NAICS

Securities and Commodity Exchanges (52321), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Security & Commodity Brokers, Dealers, Exchanges & Services (6200), Security Brokers, Dealers & Flotation Companies (6211)

akta.pro industry

PRIMARYFSADAFAB

Decentralized Lending Protocols (DeFi Money Markets)

Financial & Insurance/Crypto & Digital Assets/Crypto Lending, Borrowing & Credit Markets

SECONDARYBPAMAFAL

Crypto Payments & Stablecoin Settlement Platforms

Business & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking Platforms

SECONDARYFSADAIAF

B2B Crypto Payouts, Mass Payments & Treasury Disbursements

Financial & Insurance/Crypto & Digital Assets/Payments, Merchant Acquiring & Remittances (Crypto)

SECONDARYFSADAIAE

On/Off-Ramp Providers (Fiat↔Crypto) & Cash-In/Cash-Out Networks

Financial & Insurance/Crypto & Digital Assets/Payments, Merchant Acquiring & Remittances (Crypto)

SECONDARYFSADAFAD

Institutional / OTC Crypto Credit & Bilateral Lending

Financial & Insurance/Crypto & Digital Assets/Crypto Lending, Borrowing & Credit Markets

Keywords

• Cryptocurrency exchange platform
• Stablecoin payment infrastructure
• Cross-border remittance services
• Digital asset trading
• Tokenized equity investing

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Trading transaction fees: Maker-taker fee schedule on spot markets versus MXN, USDC, BTC, ARS, BRL, USDT, USDS, COP ranging from 0.040%/0.050% at high volumes to 0.780%/0.600% at retail tier.
2. Crypto withdrawal network fees: Fixed crypto-asset withdrawal fees (e.g., 0.00001543 BTC, 0.00001602 ETH, 3 USDT-TRC20, free XRP) offset by free deposits across most networks.
3. Bitso Business B2B stablecoin payments: B2B payment infrastructure fees from stablecoin-based cross-border transactions; Bitso Business on track to process $82B annualized TPV, including $15.6B annualized volume in Mexico.
4. Tokenized real-world assets listing and trading: Revenue from listing and trading tokenized assets including Tether Gold (XAU₮) and xStocks tokenized US equities on the platform.
5. Stablecoin issuance (MXNB via Juno): Issuance and reserve management revenue from MXNB Mexican peso-backed stablecoin issued by Juno subsidiary, deployed on XRPL Permissioned DEX for enterprise settlement.
6. FX-as-a-Service (FXaaS): Embedded FX services enabling clients to trade Latin American currencies with deep liquidity and instant withdrawals, sold to B2B counterparties.
7. Onchain.cc trading fees: Flat 0.15% trading fee on onchain.cc (dropping to 0.10% at higher Colosseum ranks) on spot and Trenches snipes; 300+ perpetual markets via Hyperliquid.
8. Earnings/yield spread revenue: Yield program offering weekly returns on USDC, USDT, ETH, DOT, ATOM, SOL funded via underlying protocol yield mechanisms (spread retained by Bitso).

Pricing tiers

Go-to-market motion5 records

Distribution channels6 records

Marketing channels8 records

Core offering

Bitso operates a regulated multi-asset digital asset platform combining a consumer crypto exchange app (100+ cryptocurrencies across MXN, ARS, BRL, COP, USDC markets), US stock and ETF investing, weekly crypto yield, cross-border transfers, and a self-custody onchain trading terminal (onchain.cc). On the B2B side, Bitso Business provides stablecoin payment infrastructure, custody, FX-as-a-Service, and merchant settlement to enterprises and fintechs, while Bitso subsidiary Juno issues the MXNB Mexican peso-backed stablecoin under El Salvador CNAD regulation for on-ledger USD/MXN settlement.

Product overview

Bitso operates a multi-product platform combining a unified consumer app, a B2B infrastructure business, a self-custody onchain trading terminal, and a regulated stablecoin offering. The core Bitso app integrates retail crypto trading across 100+ assets, Bitso Stocks for US equities and ETFs, Bitso Transfer for cross-border USD/crypto remittances, and Bitso Earnings for weekly yield; Bitso Alpha serves professional traders with advanced tools. Bitso Business is the B2B arm providing stablecoin payments, FXaaS, and Pay with Bitso to institutions across Latin America (LATAM's first stablecoin payments platform to surpass $80B in annual TPV in 2025). Onchain (onchain.cc), a self-custody trading terminal operated by Bitso group company Nvio Pagos El Salvador, adds Spot, Perps via Hyperliquid, DEX aggregation, Trenches snipes, and the gamified Colosseum trading competition. MXNB, a Mexican peso-backed stablecoin issued by Bitso subsidiary Juno, anchors the firm's regulated USD/MXN settlement infrastructure on the XRP Ledger Permissioned DEX.

Differentiator

Problem solved

Functional benefit

Brands

• Bitso Business: B2B division of Bitso providing cross-border payments, custody, conversion, and settlement infrastructure for institutions and corporates across Latin America.
• Bitso Alpha
• onchain.cc (by Bitso / Nvio)
• Juno

Products and services

• Bitso Consumer App Unified retail app for buying, selling, and managing 100+ cryptocurrencies across LATAM (MXN, ARS, BRL, COP, USDC markets), with local-currency deposits via SPEI, COELSA, PIX, and Colombian bank transfer, advanced order types, and real-time market data.
• Bitso Alpha Advanced pro-trading platform offering the full order-book toolset for sophisticated users, exposed as a dedicated Bitso Alpha surface with mobile and web components tracked on the Bitso status page.
• Bitso Business B2B division of Bitso that helps global companies move money across Latin America via stablecoin rails, custody, conversion, and settlement; LATAM's first stablecoin payments platform to surpass $80 billion in annual total payment volume in 2025, processing $15.6 billion in annualized Mexico volume.
• Onchain.cc Independent self-custody trading terminal built by Bitso and operated by Nvio Pagos El Salvador, aggregating Spot, Perps via Hyperliquid with up to 40x leverage, DEX swaps, and Trenches memecoin snipes across 14+ chains with sub-400ms execution, MEV protection, and a 0.15% base fee.
• Bitso Transfer Cross-border USD and crypto transfer product letting users create a free virtual USD account, deposit via ACH or wire from the US, send USD to US bank accounts or USDC to any crypto wallet globally, and hold or convert Digital Dollars with instant internal Bitso-to-Bitso transfers.
• Bitso Earnings Zero-fee weekly yield product for crypto holdings including USDC, USDT, ETH, DOT, ATOM, and SOL with earnings deposited every Monday and no lock-ups or fixed terms.
• Bitso Stocks Fractional US stock and ETF trading product letting LATAM users in Mexico (via Alpaca) and Argentina (via Payward xStocks) buy Apple, Tesla, Nvidia, Coca-Cola and more with local currencies or USDC/USDT, starting from 20 MXN or $5, with stock accounts insured up to USD 500,000.
• Bitso Card Bitso-issued payment card product tracked as a dedicated component on the Bitso status page for spending Digital Dollars and other supported assets.
• Bitso Trading API Programmatic trading API for developers and partners, documented at docs.bitso.com, supporting automated trading, market data, and platform integration.
• MXNB Stablecoin Mexican peso-backed stablecoin issued by Bitso subsidiary Juno, fully backed 1:1 against fiat reserves held at licensed Mexican institutions, audited by independent third parties, and natively issued on the XRP Ledger Permissioned DEX to power USD/MXN settlement.
• Colosseum Trading Competition Gamified competition layer on the onchain.cc terminal awarding points for spot, perp, and snipe trades, with six rank tiers, weekly Sessions, daily/weekly Quests, four loot-box tiers, Factions, an AI-powered social scoring system, and a $300,000+ Season 1 prize pool.
• FXaaS (Foreign Exchange as a Service) Embedded FX service for Bitso Business clients to trade Latin American currencies with deep liquidity and instant withdrawals, sold to B2B counterparties.
• Pay with Bitso Merchant-acceptance product that lets Bitso's 9 million+ users make crypto and stablecoin payments online and at select physical locations with immediate fiat and crypto settlement.

Named customers8 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration27 records

AI capability3 records

Feature9 records

Partnerships

Ten partnerships are on record, tiered core, minor and flagship.

• IncodecoreTechnology or Integration · 18 June 2026Bitso partnered with Incode to deploy identity verification infrastructure across Latin America, addressing rising automated fraud threats that grew from 3% to 40% of detected fraud attempts.
• Payward (xStocks framework)minorOEM/ Whitelabel/ Licensing Partner · 17 June 2026Bitso launched xStocks tokenized equities in Argentina using Payward's framework, offering 10 tokenized US stocks (AAPLx, NVDAx, TSLAx) tracking underlying assets 1:1.
• MastercardcoreStrategic or Co-development Partner · 10 June 2026Mastercard launched Agent Pay for Machines with Ripple (and Bitso's MXNB stablecoin ecosystem via Ripple) as one of 30+ partners, integrating XRP Ledger and RLUSD as settlement rails for AI agent payments, alongside Bitso's MXNB stablecoin for US-Mexico remittances.
• RippleflagshipStrategic or Co-development Partner · 9 June 2026Expanded partnership integrating Bitso's MXNB peso-backed stablecoin into Ripple's XRP Ledger Permissioned DEX alongside RLUSD for US-Mexico enterprise cross-border payments. Bitso contributes over 10 million users and more than 2,000 institutional clients. Targets annual remittance flows exceeding $60B between the US and Mexico.
• Miracle PaycoreStrategic or Co-development Partner · 25 May 2026Strategic partnership to accelerate merchant adoption of digital payment infrastructure across Latin America, beginning in Mexico. Miracle Pay handles merchant-facing onboarding and payment acceptance while Bitso provides custody, conversion, and settlement backbone for stablecoin-based transactions.
• AlpacacoreTechnology or Integration · 22 February 2026Strategic integration with US-based self-clearing broker-dealer Alpaca enabling commission-free trading of over 5,000 US-listed stocks and ETFs for Mexican investors, with fractional shares from $1 USD and 24/5 trading support. Plans include options trading and tokenized US equities.
• 'The Push' stablecoin startup accelerator participantscoreGTM or Marketing Partner · 4 February 2026Bitso Business runs 'The Push', a global stablecoin startup accelerator with a second edition announced in February 2026 to engage early-stage stablecoin startups across the ecosystem.
• Tether (El Salvador partnership)minorStrategic or Co-development Partner · 20 December 2025El Salvador partnered with Bitso and Tether to boost stablecoin adoption and build local startup infrastructure per LATAM crypto news coverage.
• ClaracoreTechnology or Integration · 17 September 2025Partnership to launch stablecoin-backed payments and corporate cards for businesses in Latin America. Bitso Business clients can use stablecoin holdings as collateral for Clara-issued corporate cards, domestic and international payments, bill pay, and AI-powered financial software.
• Aptos FoundationflagshipTechnology or Integration · 19 August 2025Comprehensive partnership enabling Bitso's 9 million customers to access USDT and USDC stablecoins on the Aptos network for cross-border payments in the high-volume US-Mexico corridor, with plans to expand into Argentina, Colombia, and Brazil. Aptos processing over $50B in monthly stablecoin transfer volume.

Scale indicators22 records

Recent moves9 records

Expansion highlights6 records

Broad incumbents

• Crypto.com: Global crypto exchange and card issuer, listed alongside Bitso and Blockstream as a partner of Jiko. Overlaps with Bitso on retail trading, Card product, and stablecoin payment rails, with a global rather than LATAM-focused brand.
• Binance: Largest global crypto exchange by trading volume. Competes with Bitso across LATAM retail and B2B segments, including Brazil (where Binance is among mandated biometric KYC adopters); broader product portfolio (perps, options, launchpad) and global liquidity are key differences.
• Coinbase: US-listed crypto exchange with retail, institutional and developer platforms. Directly comparable to Bitso on core spot trading, staking/earnings, and USDC distribution; Coinbase Ventures also co-invested alongside Bitso in Latitude's seed round, signaling overlapping LATAM cross-border ambitions.
• Kraken: US-regulated crypto exchange with global footprint. Comparable to Bitso on retail/ institutional spot trading, staking/earnings products, and regulated VASP status; broader geographic and asset coverage distinguishes it from Bitso's LATAM focus.

Direct peers

• Ripple: Bitso's flagship partner and the operator of the XRP Ledger Permissioned DEX where MXNB is deployed alongside RLUSD. Directly comparable as a regulated cross-border payments infrastructure provider; the partnership blurs the line between peer and channel partner but they overlap on US-Mexico remittance rails.
• Circle: USDC issuer and regulated payments infrastructure provider. Directly comparable to Bitso's Juno/MXNB on the regulated stablecoin issuance side and on the B2B payments infrastructure layer where both serve enterprise treasury and cross-border settlement.
• Mercado Bitcoin: Brazil's largest crypto exchange, also subject to Brazil biometric KYC mandates alongside Bitso. Directly comparable as a regional retail crypto exchange serving LATAM with local-currency rails and B2B offerings.
• Bitfinex: Long-standing crypto exchange (sister to Tether) with deep USD/USDT liquidity. Comparable to Bitso on professional trading, stablecoin pairs, and tokenized asset listings (Tether Gold appears on both platforms).
• Airtm: LATAM-focused digital payments platform with stablecoin on/off-ramps serving freelancers and businesses. Co-invested alongside Bitso in Checker's seed round; overlaps with Bitso on LATAM cross-border payouts and local fiat rails.

Emerging players

• Paxos: US-regulated stablecoin issuer (PYUSD, USDP) and tokenization infrastructure provider. Co-invested alongside Bitso in Latitude's seed; directly comparable to Juno/MXNB on the regulated stablecoin issuance side and to Bitso's xStocks tokenization strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bitso
• Facebookfacebook.com/bitsoex
• LinkedInlinkedin.com/company/bitso-sapi-de-cv

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries2 records

Funding overview

Funding rounds6 records

Investors25 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments10 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bitso