Mexican cryptocurrency trading platform Bitso raises $250 million

Mexican fintech Bitso, a cryptocurrency trading platform, has raised $250 million, venture capital fund Cometa, an investor in Bitso, said on Wednesday.

The resources raised represent 9% of Bitso, giving the firm an absolute valuation of about $2.2 billion, said a Cometa representative.

"Bitso becomes the first fintech in Mexico to reach a valuation of more than $1.0 billion in the market," said Cometa, also known as Variv Capital. The funds were raised in a so-called series C investment round.

Bitso, with operations in Mexico, Argentina and Brazil, is developing other uses for cryptocurrencies, such as sending remittances, the investment fund added.