Bitso Buys Gibraltar-Based Crypto Derivatives Platform Quedex
Mexico City-based Bitso plans to incorporate Quedex’s high-performance trading engine across the exchange.
The Latin American retailer said the purchase was in the last quarter.
The Mexico-based company said it is now valued at $2.2 billion, making it the first cryptocurrency company in the region to exceed a value of $1 billion.
Brazil's largest crypto exchange, Mercado Bitcoin, has already traded $5 billion in the first quarter of 2021 alone compared to $1.2 billion in all of 2020.
Citi teamed with the Inter-American Development Bank to send cross-border payments between the U.S. and Latin America.
The LACChain EOSIO network is due to be released for enterprise use within the next few weeks.