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Mexican Crypto Exchange Bitso Launches Stable Yield Program

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Mexican Crypto Exchange Bitso Launches Stable Yield Program

Bitso, a Mexico-based cryptocurrency exchange, is expanding its range of crypto investing options. The company has announced it will now allow customers to earn funds just by holding bitcoin or stablecoins in its wallet. The program, called Bitso+, will offer different yields based on the quantities deposited by users, and it is designed to help customers tackle inflation problems in Latam.

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Bitso Introduces Yield Program for Bitcoin and Stablecoins

Bitso, one of the biggest cryptocurrency unicorns in Latam, is expanding its services offerings by introducing new yield services for customers. A new program, called Bitso+, will offer users different yield plans according to the cryptocurrency and the quantities present in the wallet of the exchange.

This program, which was available to many users before and is now open for all users, offers up to 6% yield for bitcoin deposits, and up to 15% yield in stablecoins. However, this depends on the amount that the user has in the exchange wallet. For example, for bitcoin, the 6% yield applies for the first 0.4 BTC, and then 3.5% applies for the BTC outside of that range. In the same way, if the stablecoins invested go above $1,000, the yield goes down to 10%, and from $20,000 and up, a 7% yield applies.

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David Álvarez, from Bitso+, remarked on the importance of USD-pegged stablecoins in this system for the early adopters. Álvarez stated:

It will be a dollar and it is an easier way to understand the benefits of cryptocurrencies.

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Targeting Inflation-Informed Customers

Users and holders of crypto are now seeking more and more options to put their funds to work by earning yield while still having these funds available for withdrawals. This is especially more interesting for countries that have faced high levels of inflation in Latam, such as Argentina and Venezuela. This is the target audience Bitso is aiming for with this new feature. On this, Bitso CEO and co-founder Daniel Voguel stated:

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Inflation continues to rise worldwide and especially in Latam, with this new feature we are providing a new way to increase your wealth just by having your assets in your Bitso wallet.

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The exchange informed that other cryptocurrencies might be added to the Bitso+ program in the future.

What do you think about Bitso’s new stable yield program for crypto deposits? Tell us in the comments section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Bitso To Offset Carbon Emissions From The Trading Platform’s BTC, ETH, ERC20 Transactions

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Bitso To Offset Carbon Emissions From The Trading Platform’s BTC, ETH, ERC20 Transactions

On Friday, the Latin American cryptocurrency platform Bitso announced that the company plans to offset carbon emissions from its bitcoin and ERC20 token transactions carried out on the platform. Bitso is partnering with the carbon offset platform Moss.Earth in order to curb the crypto company’s environmental impact.

Bitso to Offset Crypto Transaction Carbon Emissions by Partnering With Moss.Earth

In mid-February, the Mexico-based cryptocurrency exchange Bitso revealed it was expanding into the Colombian market after witnessing a growing interest in the Latin American region. Following the expansion announcement, on April 22, Bitso announced it has partnered with the carbon offset platform, Moss.Earth. According to Bitso, the partnership aims to offset the crypto exchange’s carbon emissions tied to the BTC and ERC20 tokens the trading platform sends on a regular basis.

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Bitso says that “Moss will offset all carbon emissions produced by all bitcoin and ERC20 token transactions on Bitso.” Alongside these transactions, ethereum, tether (USDT), chainlink (LINK), and shiba inu (SHIB) transactions will be offset. “This initiative marks the beginning of Bitso’s larger climate initiative aimed at supporting sustainable growth in the region,” the Latin American cryptocurrency platform’s statements sent to Bitcoin.com News explain.

As crypto adoption increases throughout the world, it’s imperative that we address environmental impacts. By partnering with Moss – a company at the cutting edge of blockchain and sustainability – we’re demonstrating to the larger crypto community that innovation and environmental responsibility can and should co-exist,” Felipe Vallejo Dabdoub, Bitso’s chief corporate and regulatory officer remarked during the announcement. Dabdoub added:

We are really proud to announce that as of today, all our clients’ BTC and ERC20 token transactions in Bitso won’t impact the environment, and moreover will help contribute to conservation projects in the Amazon rainforest.

Crypto-Related environmental concerns Have Increased a Great Deal During the Last 12 Months, Moss CEO Hopes Other Crypto Firms Join

During the last 12 months, environmental concerns about proof-of-work (PoW) crypto asset networks like Ethereum and Bitcoin have increased a great deal. Politicians and regulators across the globe have been signaling that the crypto industry’s environmental impact, caused by PoW networks, may need strict public policy measures. Meanwhile, well before bureaucrats and regulators cracked down on this issue, digital currency firms have been proactive toward greener solutions.

Luis Felipe Adaime the CEO and Founder of Moss explained on Friday that the organization hopes other crypto firms will follow Bitso’s lead. “We’re proud to partner with Bitso, an important leader within the digital currency space,” Adaime said. “Our hope is that other projects within the space will follow suit to offset their carbon footprint.”

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Bitso, Bitso Carbon Offset, Bitso Exchange, Bitso Trading Platform, BTC, Carbon Emissions, Chainlink (LINK), Crypto Transaction, digital currency firm, Earth Day, environment, environmental concerns, environmental impact, ERC20, Ethereum, Felipe Vallejo Dabdoub, Luis Felipe Adaime, MOSS, Moss.Earth, politicians, Regulators, shiba inu (SHIB), Tether (USDT)

What do you think about Bitso partnering with Moss to offset carbon emissions tied to the platform’s crypto transactions? Let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Ripio Announces Expansion To Colombia In Next Months

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Ripio Announces Expansion To Colombia In Next Months

Ripio, an Argentinian cryptocurrency exchange, has announced concrete actions regarding its expansion to Colombia. The company will offer a new option for cryptocurrency users and traders in Colombia, and will also offer a financial education proposal that is yet to be revealed. This launch will crystallize in the following two months with the opening of an office in the country.

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Ripio to Officially Launch in Colombia

The Argentinian exchange Ripio has offered more details when it comes to its expansion in Colombia. The company has declared it will offer a new proposal for Colombian traders and cryptocurrency users focused on other services like its digital wallet. The exchange, which raised $50 million last year in its Series B funding round led by DCG, told Criptonoticias it is planning to open an office in Bogota in less than two months, with the objective of offering a yet unannounced financial education proposal.

On this new expansion plan, and what they offer Colombians, Ripio’s team stated:

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Our product offering goes far beyond an exchange, which is often the only service offered by other companies. In fact, our main product – with more than 3 million users to date – is a digital cryptocurrency wallet for first-time users.

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Customer-Geared Operation

Ripio explained that it wants to focus on its customer support, given that users in Colombia have experienced problems with other exchanges in the area in this regard. While the company has grown immensely during the last two years, going from a userbase of 400K to three million customers, and with a presence in Argentina, Brazil, Uruguay, and Colombia, Ripio is gearing its operation to be able to answer to any customer requirement in a matter of hours.

Some Colombians have experienced problems with Binance before. The exchange blocked their funds due to an investigation from a Netherlands-based money laundering office without informing customers clearly on the subject. Ripio aims to avoid a situation like that, setting up a digital help center manned by real agents who could address users’ concerns.

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Colombia has become a center of interest for cryptocurrency exchanges and startups recently. In February, Bitso, another Latam-based exchange, announced it was expanding to operate in the country. At that time, Emili Pardo, President of the exchange for the country, stated:

We are witnessing one of the most important moments in the adoption of cryptocurrencies in Colombia and the region of Latin America as a whole.

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What do you think about the expansion that Ripio is making to Colombia? Tell us in the comment section below.

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Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Fintech Platform Nequi Plans To Get Into The Cryptocurrency Business In Colombia

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Fintech Platform Nequi Plans To Get Into The Cryptocurrency Business In Colombia

Nequi, a fintech neobank which allowed Colombian citizens to test all-digital financial services, has announced its plans for expansion after having parted ways with Bancolombia, the bank that gave it its origin. These plans include an entry into the cryptocurrency world while complying with the limits set by current regulators.

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Colombian Nequi to Enter Crypto Market

More and more neobanks are considering including cryptocurrencies in their service offerings. This is the case with Nequi, a fintech platform that is reportedly considering making an entrance into the crypto sector in Colombia. The platform, which has more than ten million customers, is now in talks to become an independent company and platform, separating itself from Bancolombia.

The announcement was made by Nequi’s CEO, Cipriano Lopez, in a webinar with Credicorp Capital, a holding company that also lends financial services to its customers. Lopez explained that Nequi wants to make a direct entry into the market, with compliance being one of its first concerns.

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Nequi is currently awaiting regulatory approval to become an independent financial company in order to apply the improvements and new plans envisioned.

Strategy, Pandemic, and Growth

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The inclusion of cryptocurrency and other new features in the app is part of Nequi’s strategy to keep growing and adding new users. The platform managed to grow enormously even during the pandemic, having gained over four million customers during this time due to its all-digital business model.

This new round of changes to the app are expected to be executed in Q3 2022, with the separation from Bancolombia being the catalyst for the new phase of its financial products. The CEO also declared that the app would be introducing new services that will allow Colombians to top up public transportation cards, make ticket purchases — among other services — and to power the adoption of the platform.

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Lopez is certain that the company will be profitable in the next months, and these plans are directed to achieve this goal. But the company is not yet profitable, even after having received subsidies from the government due to its digital nature. The new strategy would include giving credits to heavy users of the platform that have sufficient liquidity to pay for them.

Colombia is currently seen as a growing crypto hub by companies like Bitso, a Mexico-based exchange that announced its expansion to the country in February.

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What do you think about Nequi getting into the cryptocurrency business? Tell us in the comments section below.

Sergio Goschenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, entering the cryptosphere when the price rise happened during December 2017. Having a computer engineering background, living in Venezuela, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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