Bitso, a Latin American crypto exchange, is planning to expand its services into the United States.
As the regulatory environment for digital assets improves in North America, Bitso intends to capitalize on this shift by offering services in the US.
According to a note from Bitso, the company recently traveled to Washington, DC, to meet with public officials, including a trip to the White House. Bitso states that they met with Patrick Witt, Executive Director of the President’s Advisory Council on Digital Assets, to review the company’s plans as well as the licensing requirements of the Office of the Comptroller of the Currency (OCC).
The OCC also regulates federally chartered banks.
Bitso aims to offer stablecoins that have received regulatory clarity under the GENIUS Act, which was recently signed into law.
Daniel Vogel, CEO and co-founder of Bitso, said they are excited that the GENIUS Act has created a competitive framework for stablecoins in the US and that clear rules bring trust and drive adoption. He noted that “stablecoins have the potential to be transformative, reducing the cost of remittances, making payments faster and more accessible, protecting savings, and eliminating inefficiencies in digital payments. What we are seeing today is historic, and Bitso is determined to be part of that history.”
Further guidance on the digital asset market is expected under the CLARITY Act, which the House has approved and is now pending in the Senate.
Bitso is the largest crypto firm in Latin America, valued at $2.2 billion (2021). Bitso reports that in 2024 it processed more than USD $25.2 billion in transactions, reflecting 1,160% growth over three years, and captured 93% market share in the same period. The same year, Bitso Business processed USD $12 billion in total flows, including USD $6.7 billion in U.S.–Mexico remittances, representing 10% of the entire corridor.
