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El Dorado completes $9 million Series A funding, led by Paradigm

MarsBitNews
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Mars Finance News, according to The Block, venture capital firm Paradigm led a $9 million Series A funding round for Latin American cross-border payment app El Dorado, with participation from Coinbase Ventures and Verda Ventures. El Dorado states that the Latin American cross-border payment market is close to $1 trillion, currently mainly sending remittances from the U.S. to Latin America, with about 60% related to B2B trade payments. The company focuses on covering "internal corridors" not served by traditional large players, such as Brazil—Bolivia, and has over 100k active users, processing more than 5 million transactions. El Dorado also launched an enterprise cross-border payment service, integrating stablecoins and fiat channels, serving over 100 companies, mainly for importing electric vehicles from China. This business is built on Layer1 blockchain Tempo, incubated by Paradigm and Stripe.
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