The Latam crypto-exchange, Bitso, has announced a strategic partnership with Addem Capital, a private fund that provides alternative debt options for investors.
Co-founder of Addem Capital, Pedro Cetina, stated that digital finance methods are essential because digital assets and DeFi protocols are potential financial stakeholders in Latam.
He also said that despite their complex model, cryptocurrencies had stepped in to ease their operational model. Cryptocurrencies are replacing traditional financial structures in Latam and the world at large.
Addem Capital will focuson VC funding market for tech companies in Latam take a stride ahead. According to a joint statement, the same market reached $15 billion in 2021.
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Bitso’s Role
Bitso will be a payment provider for Addem Capital, receiving the cryptocurrencies from investors and allowing Addem to make conversion of currencies according to its needs.
Bitso’s business developer, Carlos Lovera, noted that they appreciate the great opportunity that cryptocurrencies are offering them to develop various sectors, giving entrepreneurs access to their investment features and capital conveniently and securely and supporting their global expansion.
Bitso will facilitate new payment methods and conversion features that will allow payments using digital assets in the fund. The payment structures will make it convenient for Addem Capital to carry out compliance-related responsibilities and procedures. The exchange will also focus on taking care of Know Your Customer (KYC).
Despite the Market downturn, Bitso is still kicking to boost their customer’s income with their stablecoins and Bitcoin deposits. The exchange is also looking forward to enabling its customers to accumulate their wealth in this high inflation period.
The company is, however, struggling with the high inflation rate. This situation has forced them lay off 80 employees out of the 600-employee workforce to meet the long-term business strategy it has put in place.
