Beyond Bitcoin and Bitso: Promising startups enabling crypto adoption.

Bitso is arguably already the dominant cryptocurrency platform in Latin America with over 4 million users (mostly in Mexico and Argentina) and is one of the few platforms licensed by the Gibraltar Financial Services Commission (GFSC) for Distributed Ledger Technology (DLT). It is the only platform in the region licensed by the Gibraltar Financial Services Commission, the jurisdiction with the most advanced cryptocurrency trading regulatory framework.

Among other regions of the world, Latin American entrepreneurs are constantly entering the cryptocurrency market, improving their growth opportunities. The crypto space in Latin America has spawned a number of interesting companies whose influence on decentralized finance extends beyond the region alone. If the crypto boom continues, we may see more companies in the field with the same impressive funding rounds such as Bitso or Mercado Bitcoin.

The development of the cryptocurrency industry may be of interest to venture capitalists who have not yet caught on to this trend, but may yet do so as new companies emerge. The neglect of mass investment interest has manifested itself in the cynicism of the Latin American media, where blockchain is rapidly evolving but remains a relatively new concept. Because of these factors, Latin American countries have yet to develop a strong blockchain and crypto-innovation ecosystem. Without the full penetration of credit cards, it’s not crazy to believe that a cryptocurrency-based mobile financial app could be the first financial product for many people.

Let’s take a minute to talk about promising startups that are not as covered by media, but are acting as blockchain enablers across LaTam beyond exchange services.

Here is our top 5 blockchain promises for 2022:

Filecoin: Filecoin turns blockchain technology into a competitive storage market. Blockchain is becoming a legitimate breakthrough in a multitude of industries.

SeSocio: is a personal finance application founded by Guido Quaranta and Gastón Krasny, based in Buenos Aires, Argentina, with customers across Argentina, Chile, Colombia, Mexico, and Peru. Founded in 2017, the first blockchain-based regional investment platform allows consumers to save, invest, and manage money all in one spot. Users have access to the crypto and DeFi worlds with a physical and virtual credit card, that helps people trade

Avalanche: A leading open, programmable smart contracts platform for decentralized applications.

KNFT by Konfront: provides Plug&Play technology to build decentralized applications (dApps) that interact through JSON APIs, helping companies integrate blockchain functionalities and benefits to any traditional application without any technology migration. They also offer their Blockchain capabilities under a Product as a Service Model, allowing any company that wants to launch blockchain initiatives to do so easily.

Cincel: Mexico based company that provides blockchain technologies for digital document signatures, providing security and scalability for business transactions.

The market is clearly set to grow during 2022, so whether you are taking your first steps in the ecosystem, considering launching a blockchain based initiative or are already part of the ecosystem and now want to promote your cryptocurrency business (or your clients’ cryptocurrency business) in Latin America, there are certainly opportunities for those who are ready to do the work.

Sources

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