Magma Partners Invests in CryptoMkt

July 10, 2018

February 23, 2021

CryptoMkt is one of Latin America’s fastest-growing cryptocurrency exchange platforms. Using blockchain technology, CryptoMkt helps people to exchange bitcoin for national currencies across Latin America.

CryptoMkt has a crypto-wallet and exchange through an online platform and app, making it possible to transfer currencies rapidly and at a much lower cost than any cross-border services available today. CryptoMkt currently has more than 150,000 users with around $70B in transactions through the platform.

CryptoMkt was founded in 2016 by Rafael Meruane Naranjo and Martín Jofré in Santiago, Chile. The company is now active in Chile, Brazil, Mexico, Argentina, and the European Union.

Magma Partners invested CryptoMkt alongside ConsenSys Ventures in a $600K Seed round to support the growth of their wallet in Chile and the region.