VC funding in Latin American crypto and blockchain companies reaches $653 million in 2021, a nearly 10-fold increase

time:2022-02-17 02:30 source:Internet

According to a report published by the Latin American Private Capital Investment Association (LAVCA), venture capital investment in Latin American cryptocurrency and blockchain companies will reach $653 million in 2021, almost ten times the amount in 2020 (about $68 million). Investments focused on consumer-facing asset exchanges and retail trading platforms received a total of $607 million. Among them, Bitso, a Mexican crypto exchange with operations in Argentina and Colombia, raised $250 million in May 2021, becoming Latin America’s first cryptocurrency unicorn. Brazilian cryptocurrency exchange Mercado Bitcoin has raised a total of $290 million in three funding rounds at a valuation of $2.2 billion. According to LAVCA, total venture capital investment in Latin America will reach $15.7 billion in 2021, compared to $4.1 billion in 2020.

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