Bitcoin Startup BitPagos Acquires Argentinian Exchange Unisend
BitPagos has acquired Unisend Argentina, the country's first order-book exchange as part of an undisclosed deal.
Sep 16, 2015 at 4:50 p.m. UTC
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BitPagos has acquired Unisend Argentina, the country's first order-book exchange, as part of an undisclosed deal for cash and equity.
follows the sale of the exchange subsidiary Unisend Mexico, and BitPagos' $1.18m funding round finalized last September.
CEO Sebastian Serrano explained that the acquisition will provide BitPagos with a third product offering to complement its existing payment processing service and Ripio, its wallet and brokerage offering.
Serrano told CoinDesk:
Serrano said the exchange will also help BitPagos market the liquidity it receives from its bitcoin-accepting merchants. Additionally, while Unisend has faced issues with Argentinean banks in the past, Serrano suggested the service is unlikely to experience interruptions
The exchange service is currently operating under the Unisend branding, with the service charging 2% for deposit and 0.6% for trades.
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Members of the Unisend leadership, Serrano said, will move on to other ventures following the sale.
Buenos Aires image via Shutterstock
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