In a record-breaking deal for a Latin American crypto company, Buenbit, an exchange based in Argentina has raised $11M in Series A funding.
Buenbit, the leading cryptocurrency platform in South America’s second-biggest economy, allows users to exchange fiat currency for BTC, ETH, and DAI. In May, Buenbit launched operations in Peru, and now with their newly raised cash, the company aims to expand further in the region.
“It allows us to keep on adding the best talent to our team,” said Buenbit CEO and co-founder Federico Ogue. “We want all of the users of the region to be able to take advantage of the benefits that cryptocurrencies offer in a simple, transparent and safe way.”
Buenbit’s Series A round was led by the European venture capital fund Libertus Capital, which also backed Zapper, a DeFi assets management platform.