Paradigm is making a bold move by betting on Latin American cross-border payments—its stablecoin + fiat dual-channel strategy is a strong play, and the 100,000 users are only the beginning.

According to The Block, Coin World News reports that el dorado has completed a $9 million Series A funding round, led by paradigm, with Coinbase Ventures and Verda Ventures participating. The funds will be used to expand Latin America’s cross-border payment infrastructure. el dorado covers internal corridors such as Brazil and Bolivia, with more than 100,000 active users and over 5 million transactions processed. The company has launched an enterprise-focused cross-border payment service that integrates stablecoins and fiat currency rails, and has served more than 100 businesses.