El Dorado, the Latin American Stablecoin-Powered SuperApp, has successfully closed its seed round, raising $3 million. Multicoin Capital led this round with participation from Coinbase Ventures, Berkeley Skydeck, and Awesome People Ventures. This funding will enable the company to drive its growth and expand its services to more users in the region.
The platform boasts over 150,000 users and has processed 1 million transactions in its first 12 months of operation across Colombia, Venezuela, Argentina, Peru, Brazil, and Panama. With this new investment, El Dorado aims to reach 250,000 active users in 2024.
Additionally, the company is developing a new product, a cryptocurrency swap. You can sign up for the waitlist if you want to be among the first to try it.
Guillermo Goncalvez, CEO and Co-founder of eldorado.io, states, "We believe in the free market, which is a core part of our business premise. We are building free markets that encourage currency competition between countries. We want to ensure that all of us, Latin Americans, have the option to escape local currency issues, ensuring that, for example, what happened in Venezuela and Argentina with inflation does not repeat."
El Dorado's mission is to make value exchange and creation accessible to anyone worldwide. Its vision is to become the "SuperApp" of payments, changing how 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 currency trading.
Our commitment goes beyond being a mere exchange platform; we are building free markets that encourage currency competition. We are creating an ecosystem where everyone, regardless of location or financial situation, can participate in the global economy transparently, stablely, and securely. El Dorado is the easiest way to buy, sell, and earn stablecoins in Latin America, emphasizes Goncalvez.
Download the El Dorado app and enjoy the SuperApp for cross-border payments in Latin America.
