Bitso's Brazil Gambit with Daniel Vogel and Thales de Freitas

Nearly two years after first entering the Brazil market, Bitso Brasil received its payment institution license last week from the Brazilian Central Bank. The license will enable the exchange to offer a new array of financial products and services in the market. I took the occasion to catch up with Bitso CEO Daniel Vogel and Thales de Freitas, CEO of Bitso Brasil, to discuss the new license as well as the ups and downs of Bitso’s first two years of operating in Brazil. These include reaching one million customers, adoption of novel cross-border payment mechanisms that use crypto rails and becoming a leader in the crypto regulatory conversation in Brasilia. Other themes we discussed include: The successes and struggles of launching in Brazil during a complicated market cycle The importance of building new bridges between crypto and the Tradfi worlds Bitso’s value proposition to customers in an increasingly competitive market A glimpse into Bitso’s 2023 Brazil roadmap Please follow and subscribe to Brazil Crypto Report on Substack for more news, analysis and interviews examining the Brazil crypto ecosystem.