SAO PAULO (Reuters) - Mexican cryptocurrency exchange Bitso has hit the one million users mark in Brazil about a year after it launched in the country, according to the company's Brazil chief.
"We beat 1 million users in Brazil earlier than expected, and our transaction volumes grew by 66% in June from May," Thales Freitas told Reuters in an interview.
He did not provide detailed figures, but said that July readings have already exceeded the previous month despite the recent downturn seen across most major crypto currencies.
Founded in 2014 and headquartered in Mexico, Bitso raised $250 million in a funding round in May 2021, which valued the platform at $2.2 billion ahead of its debut in Brazil.
Freitas, a former executive at Citi and HSBC, took over in Bitso's second largest market, Brazil, three months ago with the mission of leading the company through an increasingly adverse scenario of intense asset volatility and higher interest rates.
To overcome these hurdles, Bitso has...
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