Bitso is Latin America's largest cryptocurrency exchange, founded in 2014 in Mexico City and serving over 7 million users across Mexico, Argentina, Brazil, and Colombia. Licensed by Mexico's CNBV (National Banking and Securities Commission) and operating under multiple LatAm regulatory frameworks, Bitso has built its dominance through deep local fiat integration — supporting MXN, BRL, ARS, and COP — and a pioneering role in crypto-powered cross-border remittances through its partnership with Ripple and MoneyGram.
About Bitso
Founded in 2014 by Daniel Vogel and Pablo González in Mexico City, Bitso was one of Latin America's first regulated crypto exchanges. The exchange's strategy of pursuing regulatory licences across multiple LatAm jurisdictions — unusual in the region's early crypto years — gave Bitso the institutional credibility needed to establish banking relationships and serve the remittance market. Bitso achieved unicorn status in 2021 following a $250M Series C funding round backed by Tiger Global and Coatue Management.
Key Facts
| Item | Details |
|---|---|
| Founded | 2014 |
| HQ | Mexico City, Mexico |
| Licence | Mexico CNBV licensed |
| Users | 7 million+ |
| Listed Coins | 150+ |
| Fiat | MXN, BRL, ARS, COP |
| Markets | Mexico, Brazil, Argentina, Colombia |
| Remittance | XRP-powered US-Mexico corridor |
Key Features
XRP-Powered Remittances
Bitso's partnership with Ripple and MoneyGram for XRP-based US-to-Mexico remittances represents one of real-world crypto's most commercially significant use cases. The Bitso remittance corridor enables near-instant, low-cost USD-to-MXN transfers — directly challenging traditional remittance services like Western Union in one of the world's largest remittance corridors ($60B+ annually).
Multi-LatAm Fiat Support
Bitso's support for MXN, BRL, ARS, and COP fiat currencies across four LatAm countries makes it the most comprehensive regional exchange for investors across Latin America. Each country integration includes local banking rails — SPEI in Mexico, PIX in Brazil, bank transfer in Argentina and Colombia.
CNBV Licensing
Bitso holds a licence from Mexico's CNBV under the country's Fintech Law (LTEF) — one of LatAm's most structured fintech regulatory frameworks. This licensing gives Bitso the regulatory standing to offer banking-adjacent services and pursue institutional partnerships unavailable to unlicensed competitors.
Fee Structure
| Service | Fee |
|---|---|
| Maker fee | 0.5% (reduces with volume) |
| Taker fee | 0.65% (reduces with volume) |
| MXN deposit via SPEI | Free |
| Remittance fee | Competitive vs. wire transfer |
Pros & Cons
Pros
- LatAm's largest exchange (7M+ users)
- Mexico CNBV licensed
- MXN/BRL/ARS/COP fiat
- XRP remittance corridor
- Strong institutional backing
- Multi-country LatAm operations
Cons
- Standard fees 0.5–0.65% — not the lowest
- LatAm-focused — limited global coin pairs
- ARS currency volatility risk in Argentina
- Limited derivatives product offering
Summary
Bitso is Latin America's undisputed crypto exchange leader, combining regulatory licensing across four LatAm markets, deep local fiat integration, and the pioneering XRP remittance corridor that brings real-world utility to crypto payments. For investors in Mexico, Brazil, Argentina, or Colombia seeking a regulated, locally-integrated crypto platform — or for anyone sending remittances across the US-Mexico border — Bitso is the region's most trusted and comprehensive exchange.