🌎 Coinbase expands to Argentina & Bitso launches accelerator program

This week crypto in LATAM

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Frontera EC & Abraham Rivv
January 31, 2025

👋 Hi welcome to Frontera, the newsletter dedicated to showcasing the reality of crypto in Latam. Join industry leaders from The Ethereum Foundation, The Solana Foundation, Binance, Crypto.com,  and others to understand how Latin America has become one of the most dynamic and promising markets in crypto and how you can address this market.

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If you want to build products, invest, or grow in LATAM, this is your place. 

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📰 Coinbase expands to Argentina & Bitso launches “The Push

Let's delve into the 2 more important news of this week on crypto in Latam.

1/ Coinbase expands to Argentina

Coinbase has just received approval to launch its platform in Argentina, a country where 5 million people use crypto daily. 

This move is part of the company's global mission to increase economic freedom and help users confront inflation and financial instability. In Argentina, 87% of people believe crypto can boost financial independence, and 76% see it as a solution to financial challenges like inflation.

To lead this expansion, Coinbase has appointed Matías Alberti, a fintech expert with experience at companies like Buenbit and Clara. Alberti will be key in adapting Coinbase’s services to the Argentine market, offering localized services in Spanish and integrating local payment methods.

Coinbase’s commitment to security and regulatory compliance will ensure that its platform meets high standards for safety, while its focus on education will help users make the most of crypto’s potential. Through these efforts, Coinbase aims to empower Argentinians with the tools they need for greater financial autonomy.

This expansion marks a significant milestone in Coinbase’s efforts to bring crypto services to new markets, demonstrating how crypto can be a lifeline for those facing financial uncertainty. It also reflects the growing global demand for crypto as a way to achieve greater financial freedom.

2/ Bitso launches “The Push” a stablecoin startup accelerator

Bitso Business has launched "The Push", an acceleration program aimed at startups based in Latin America or those looking to expand into the region. The program targets companies that use blockchain, crypto or stablecoins as an innovation engine with a scalable business model led by a 100% dedicated team.

Latin America has become a fertile ground for technological solutions, especially in areas like cross-border payments and finance, making it a key location for the growth of these startups.

The program is looking for 5 startups ready to take the next step in their development. It offers up to $250,000 in funding, as well as $50,000 in Bitso services to leverage its infrastructure. Additionally, selected startups will receive mentorship from experts to accelerate their growth and expansion in the Latin American market.

The initiative aims to enhance the vision of startups, helping them scale their business and take advantage of the explosive growth of the blockchain sector. It’s an opportunity for companies looking to position themselves as leaders in the region’s digital transformation.

Also, Bitso is not the only web3 accelerator targeting LATAM, we have 3 more players:

The OV LATAM Cohort is Outlier Ventures' first accelerator program based in Latin America. 

It targets promising Web3 builders to address income inequality, digital payments, and fintech growth in the region. Latin America is ripe for Web3 solutions, given its reliance on digital payments and remittances. 

The program seeks projects in consumer fintech, OpenFi, financial inclusion, and DeFi. Startups receive 12 weeks of dedicated support, access to a network of experts, and potential follow-up investments of up to $200,000. The program includes a virtual demo day and extensive fundraising support, empowering startups to make a significant impact.

Crecimiento is a dynamic accelerator program based in Buenos Aires, Argentina. 

The program recently kicked off its third season with high energy, hosting a successful community call with over 370 participants. Crecimiento supports startups through its Founder School program, which equips entrepreneurs with essential tools for success. 

About 50% of participating startups focus on fintech, 40% on AI, 15% on cybersecurity, and 8% on edtech. The Crecimiento ecosystem includes over 250 innovative startups, shaping the future of Argentina's tech landscape. Additionally, the Aleph Hub coworking space and AI x Crecimiento initiative foster a vibrant community of innovators.

Odisea, in partnership with Mantle, has launched Acelera, a 10-week accelerator program designed to scale Latin America's boldest startups. 

The program offers a $20,000 participation grant, access to top-tier advisors, and a demo day to pitch to leading investors. Acelera's mission is to empower Latin America's brightest builders to create decentralized futures using on-chain technology. The program covers various aspects, including product development, security, regulatory compliance, and fundraising. 

Odisea Acelera aims to overcome the innovation gap in the region by providing comprehensive support to startups across different stages.

Just as Coinbase is expanding to Argentina, will your startup be the next to expand to Latin America?

With 💜 Rivv, Ab, Santiago & Cush.

📰 Latam Crypto News 📰

Key stories of crypto in LATAM this week

Nubank is considering relocating its legal base to the UK to drive global growth, especially in crypto. With the US market becoming more crypto-friendly, the company sees it as a key expansion target. Recent investment in Tyme Group opens doors to emerging markets like South Africa and the Philippines, aligning with its strategy to expand beyond Latin America.

Also, David Vélez (Nubank CEO) says Trump’s stance on crypto will drive global fintech growth.

Blockchain enables direct issuance of financial assets, reducing intermediaries and enhancing transparency. Tokenizing real estate and financial assets simplifies transactions, opening markets to previously excluded participants. 

🥇 Argentina and Mexico rank among the top nations for crypto adoption, according to Sebastian Reyes, Chief Analytics Officer of Vita Wallet. 

🇧🇷 Brazil

Moody’s highlights Brazil’s digital evolution with Pix and Drex, predicting blockchain-based contracts and a fully digital asset market, boosting innovation and monetary autonomy.

🇲🇽 Mexico

Helium Mobile launches HIP 140, changing hotspot rewards to active connections. The measure aims to optimize mobile coverage in the US and Mexico, boosting provider incentives.

🇦🇷 Argentina

Argentina's CNV (Comisión Nacional de Valores) registered 100+ crypto companies, with 80% being domestic. Unlike El Salvador, Argentina has a strong local crypto ecosystem.

🇸🇻 El Salvador

🇸🇻 After 3+ years of having Bitcoin as legal tender, yesterday El Salvador passed a bill sent by Bukele to revise that law and rescind Bitcoin's status as legal tender in order to conform with IMF conditions for a loan

With 215 ATMs, El Salvador tops LATAM and the Caribbean. It triples Mexico and surpasses Puerto Rico, highlighting the region’s uneven BTC adoption.

🇨🇴 Colombia

Following a brief diplomatic crisis between Colombia and the U.S., which caused the Colombian peso to drop over 24%, investors suggested creating a stablecoin backed by Colombian coffee. 

🇵🇦 Panama

The UNODC held a training session in Panama to educate over 30 key financial officials on blockchain, cryptocurrencies, and regulations to develop policies aligned with international standards.

See u next Friday!