Buenos Aires, Argentina, January twenty first, 2025, Chainwire
El Dorado, Latin America’s main SuperApp for stablecoin funds, celebrates important milestones that validate its mission of bridging the interoperability hole between stablecoins and LATAM’s high finance apps. With its peer to see USDT market, El Dorado is fostering entry to digital {dollars} and seamless cross-border funds within the area.
Venezuela’s Most-Downloaded Crypto App
In 2024, El Dorado P2P was the most-downloaded cryptocurrency app in Venezuela, as individuals embraced Tether because the digital greenback, an on a regular basis technique of funds, and a hedge in opposition to the nation’s foreign money devaluation. The platform additionally ranked among the many Prime 5 finance apps throughout the nation, with over 28,000 critiques on Google’s Play Retailer, underscoring its rising fame and adoption.
A Stablecoin-Powered SuperApp for Latin America
El Dorado’s SuperApp connects stablecoins like Tether (USDT) and MountainUSD (USDM) to the area’s high 70 finance apps. By bridging the interoperability hole between digital {dollars} and Latin America’s conventional monetary system, the corporate has develop into the area’s main peer-to-peer stablecoin market, having powered over three million transactions in digital {dollars}; Tether.
Guillermo Goncalvez, Co-founder and CEO of El Dorado, highlighted the corporate’s progress and impression: “In simply two years, we’ve gone from $0 to $2.7 million in Annual Recurring Income (ARR), showcasing the ability of our market’s community results, and the belief we’ve earned from customers. By fixing the interoperability hole, we’re creating freer foreign money markets and enabling cross-border transactions that have been beforehand expensive or inaccessible.”
File-Breaking Development
With over 500,000 downloads on Google’s Play Retailer and the App Retailer mixed, and greater than 500,000 customers, El Dorado has demonstrated its capability to fulfill the wants of Latin America’s dynamic monetary panorama.
Alessandro Cecere, Co-founder and CMO of El Dorado, mirrored on the platform’s speedy growth: “The explosive progress we’ve seen during the last two years—together with a 12x enhance in ARR in 2024, and over 600,000 downloads—is a testomony of our distinctive multi-channel acquisition technique, and a very good product that enables us to onboard new customers to stablecoins throughout Latin America.”
The platform’s integration of stablecoins with native monetary networks has addressed vital challenges like foreign money instability and excessive remittance prices. By offering a seamless approach to convert native currencies into digital {dollars}, El Dorado empowers customers to take part in freer, extra environment friendly cross-border funds.
Piloting Gasless USDT Transactions With Tron DAO
In collaboration with Tron DAO, El Dorado efficiently piloted one of many first gasless transactions utilizing USDT. This marketing campaign eradicated community charges for customers, making digital {dollars} extra accessible and reasonably priced for cross-border funds. The gasless mannequin marks a major step ahead in decreasing boundaries to entry for customers throughout Latin America, making certain seamless monetary interactions with out the hidden prices sometimes related to blockchain expertise.
Introducing USDM Self-Custodial Wallets
El Dorado has partnered with Mountain Protocol and Secure to allow a USDM self-custodial pockets. This pockets permits Latin American customers to securely retailer their digital property whereas offering entry to U.S. Treasuries. By bridging the hole between conventional finance and blockchain, this collaboration provides customers the chance to take part in steady and high-quality monetary devices beforehand unavailable to many within the area.
Partnering with Arbitrum Basis for Sooner Transactions
Via a strategic partnership with the Arbitrum Basis, El Dorado is enabling cheaper and sooner methods to maneuver digital {dollars}, equivalent to Tether (USDT), for over 600,000 Latin Individuals. The collaboration leverages Arbitrum’s environment friendly and scalable blockchain infrastructure to cut back transaction prices and enhance velocity, empowering customers to ship and obtain digital funds with out friction.
Trying Forward
As El Dorado builds on its success, the corporate is devoted to furthering its mission of interoperability and monetary inclusion. Upcoming initiatives embody increasing partnerships with native monetary establishments, launching instructional applications on stablecoin adoption, and introducing new options for cross-border and B2B funds powered by Tether. These efforts intention to empower underserved communities and foster a extra resilient monetary ecosystem in Latin America.
About El Dorado
El Dorado is Latin Individuals’s main Stablecoin-Powered SuperApp that permits customers to purchase, promote, and use stablecoins like USDT and USDM throughout Argentina, Bolivia, Brazil, Colombia, Panama, Peru, and Venezuela. With a give attention to interoperability, simplicity, and monetary inclusion, El Dorado is remodeling how individuals within the area transact and handle their funds.
For extra info, customers can go to El Dorado or contact the group at [email protected]
Contacts
CMO
Alessandro Cecere
El Dorado
[email protected]
Development Advertising Supervisor
Bianca Donnini
El Dorado
[email protected]