🌎 Bitso’s The Push: Meet The Winners

Real problems. Real solutions. Real data. This is Frontera.

Your weekly dose of data-driven crypto insights from the Latin American frontier. From Buenos Aires to Monterrey, we cover it all: the numbers, the projects, the people.

If you’re building, investing, or scaling in LatAm, this is where you start.

Reading this by email? Click Read Online in the top right corner to view the full edition. Or listen to the full episode here. 

And don't miss this week's guest podcast with Marek from Celo, where we explore the evolution of stablecoins and their role in emerging markets.

This Edition is Presented by Bitso’s Stablecoin Conference

Frontera is an official media partner of Bitso’s Stablecoin Conference 2025.

We’ll be on the ground in Mexico City this August 27–28, covering the builders, the breakthroughs, and ideas reshaping LatAm’s financial future.

Use the code FRONTERA10 for 10% off your ticket here. See you there.

🌎 The Push: Bitso’s Bold Bet

Stablecoins have quietly become the backbone of crypto in LatAm. You know what? Drop the “crypto in”, just “of LatAm”, it's cleaner.

From Argentina to Mexico, people use dollar-pegged tokens to send money home, shield savings from inflation, and settle trades.

• In 2024, stablecoins processed over $27.6T in volume, more than Visa and Mastercard combined.

• They saw a 207.7% YoY increase in transaction value, now at a $242B market cap.

• At Bitso, stablecoins already represent 39% of user purchases in the region.

Seeing this shift firsthand, Bitso launched The Push: the world’s first startup accelerator focused exclusively on stablecoin innovation. Designed to back founders solving real financial frictions in Latin America, the program offers up to $250,000 in funding, $50,000 in Bitso credits, and hands-on mentorship from Bitso’s team and partners.

Over 300 applied. Only 9 were selected.

Below, we introduce the chosen startups and what they're building. Think of this as a curated portfolio of the ideas Bitso is betting on, each a window into how stablecoins can solve a specific Latin American pain point. 

Let’s meet the cohort of The Push 2025:

🥇 The Winning Cohort

🇧🇷 Lumx

Lumx is building the backend for stablecoin adoption in Latin America. Its API-first platform lets businesses convert local currencies into digital dollars, move them across borders in seconds, and cash out on arrival. 

By integrating with local rails like Pix and automating the entire FX flow, Lumx makes cross-border transfers as simple as a domestic payment. 

The magic is in the middleware: treasury ops, reconciliation, and compliance. All handled. Bitso selected Lumx for doing the unsexy but critical work of connecting banks to blockchain. In a region driven by stablecoins, Lumx is how traditional finance plugs in.

🇺🇲 Sphere

Sphere is building the fastest stablecoin payment rails between the U.S. and emerging markets. Its API, SpherePay, lets fintechs move dollars internationally in seconds. No exchanges. No delays.

The trick? A “stablecoin sandwich”: convert to USDC, send on Sphere’s custom L1, and cash out locally.

Already moving billions in volume, Sphere focuses on real-world B2B use cases: payroll, trade, and suppliers.

Bitso picked Sphere for its speed, scale, and serious traction. In a region where every second and every cent matters, Sphere is turning cross-border chaos into clean, instant rails.

🇧🇷 BlindPay

BlindPay simplifies Latin America’s fragmented payments landscape with a single stablecoin-powered API. Developers can use it to send or receive funds via Pix, SPEI, PSE, or stablecoin wallets, without wrangling local rails.

Think: pay in Brazil, cash out in Mexico, all through one integration.

Fresh out of Y Combinator, BlindPay blends crypto-native speed with enterprise-grade compliance. Bitso backed it for exactly that reason: it’s infra that works. By abstracting the rails, BlindPay makes stablecoins invisible, everywhere.