Episode 7 of Season 2 of The Scoop was recorded via Skype with Frank Chaparro and Daniel Vogel, CEO at Bitso. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Play, Stitcher, or wherever you listen to podcasts. Email feedback and revision requests to [email protected]
To the bemusement of some XRP bears, crypto exchange Bitso captured attention earlier this year with news that it captured over 2% of Mexico’s remittance market.
Indeed, the ability to quickly and seamlessly send money across borders has long been one of the touted benefits of cryptocurrencies, but Bitso’s surge has stood out among its rivals. XRP/Peso volume growth has surged over the past 5-months, while volumes on the whole declined.
In this episode of The Scoop, Bitso CEO Daniel Vogel walked The Block’s Frank Chaparro through its business. We also examine:
- Why Vogel thinks Bitso can capture 20% of the Mexican remittance market by the end of the year (the equivalent of over $100 million a week)
- The crypto landscape in Mexico and Latin America and the reason why it boosts “crazy” adoption metrics
- What traditional financial-services companies in Mexico can learn from crypto-native firms like Bitso about the digitization and democratization of finance
- The catalyst behind the growth of its XRP-powered remittance business