[PRESS RELEASE – Buenos Aires, Argentina, January 21st, 2025]
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 prime finance apps. With its peer to look 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 folks embraced Tether because the digital greenback, an on a regular basis technique of funds, and a hedge towards the nation’s foreign money devaluation. The platform additionally ranked among the many Top 5 finance apps throughout the nation, with over 28,000 opinions on Google’s Play Retailer, underscoring its rising repute 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 prime 70 finance apps. By bridging the interoperability hole between digital {dollars} and Latin America’s conventional monetary system, the corporate has change 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 development and influence: “In simply two years, we’ve gone from $0 to $2.7 million in Annual Recurring Income (ARR), showcasing the facility 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 had been beforehand pricey or inaccessible.”
Report-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 capacity 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 enlargement: “The explosive development we’ve seen over the past 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 essential challenges like foreign money instability and excessive remittance prices. By offering a seamless method 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 inexpensive for cross-border funds. The gasless mannequin marks a major step ahead in lowering obstacles to entry for customers throughout Latin America, making certain seamless monetary interactions with out the hidden prices usually 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 affords 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
By a strategic partnership with the Arbitrum Basis, El Dorado is enabling cheaper and quicker methods to maneuver digital {dollars}, reminiscent of Tether (USDT), for over 600,000 Latin People. The collaboration leverages Arbitrum’s environment friendly and scalable blockchain infrastructure to scale back transaction prices and enhance pace, empowering customers to ship and obtain digital funds with out friction.
Wanting Forward
As El Dorado builds on its success, the corporate is devoted to furthering its mission of interoperability and monetary inclusion. Upcoming initiatives embrace increasing partnerships with native monetary establishments, launching instructional packages on stablecoin adoption, and introducing new options for cross-border and B2B funds powered by Tether. These efforts goal to empower underserved communities and foster a extra resilient monetary ecosystem in Latin America.
About El Dorado
El Dorado is Latin People’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 deal with interoperability, simplicity, and monetary inclusion, El Dorado is reworking how folks within the area transact and handle their funds.
For extra info, customers can go to El Dorado or contact the group at advertising@eldorado.io
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