El Dorado, the cryptocurrency payment SuperApp in Latin America, has closed its first round of seed capital for $3 million, led by Multicoin Capital with the participation of Coinbase Ventures and Berkeley Skydeck of the University of California. This funding will allow the company to boost its growth and expand its services to more users in the region.
The platform has more than 150,000 users and has processed 1 million transactions in its first 12 months of operation in Colombia, Argentina, Peru, Brazil and Panama. With this new investment, El Dorado seeks to reach 250,000 active users in 2024.
In addition, the company is developing a new product, a cryptocurrency swap. If you want to be among the first to try them, you can sign up for the waiting list.
Guillermo Goncalvez, CEO and Co-founder of Eldorado.io, states that “We are betting on the free market, it's part of our business premise. We are building free markets that encourage currency competition between countries. We want to make sure that all of us, Latin Americans, have the option of escaping the local currency, ensuring that, for example, what happened to Argentina in relation to inflation is not repeated.”
El Dorado's mission is to ensure that exchange and value creation are accessible to anyone in the world. Its vision is focused on becoming the “SuperApp” for payments that will change the way in which Latin Americans earn, save and send money. The platform facilitates international payments with stablecoins, solving the lack of interoperability between payment methods and generating additional income through foreign exchange trading.
Our commitment goes beyond being an exchange platform; we are building free markets that encourage competition between currencies. We are building an ecosystem in which every person, regardless of their location or financial situation, can participate in the global economy in a transparent, stable and secure manner. El Dorado is the easiest way to buy, sell and earn stablecoins in Latin America, highlights Goncalvez.
Download the El Dorado app and start enjoying the SuperApp for cross-border payments for Latin America.
