Buenos Aires, Argentina, January 21st, 2025,
Chainwire
El Dorado, Latin America’s leading SuperApp for
stablecoin payments, celebrates significant milestones that
validate its mission of bridging the interoperability gap between
stablecoins and LATAM’s top finance apps. With its peer to peer
USDT marketplace, El Dorado is fostering access to digital
dollars and seamless cross-border payments in the region.
Venezuela’s Most-Downloaded Crypto App
In 2024, El Dorado P2P was the most-downloaded cryptocurrency
app in Venezuela, as people embraced Tether as the digital dollar,
an everyday means of payments, and a hedge against the country’s
currency devaluation. The platform also ranked among the Top 5 finance
apps across the country, with over 28,000 reviews on
Google’s Play Store, underscoring its growing reputation and
adoption.
A Stablecoin-Powered SuperApp for Latin
America
El Dorado’s SuperApp connects stablecoins like Tether
(USDT) and MountainUSD (USDM) to the
region’s top 70 finance apps. By bridging the interoperability gap
between digital dollars and Latin America’s traditional financial
system, the company has become the region’s leading peer-to-peer
stablecoin marketplace, having powered over three million
transactions in digital dollars; Tether.
Guillermo Goncalvez, Co-founder and CEO of El Dorado,
highlighted the company’s growth and impact: "In just two years,
we’ve gone from $0 to $2.7 million in Annual Recurring Revenue
(ARR), showcasing the power of our marketplace’s network effects,
and the trust we’ve earned from users. By solving the
interoperability gap, we’re creating freer currency markets and
enabling cross-border transactions that were previously costly or
inaccessible."
Record-Breaking Growth
With over 500,000
downloads on Google’s Play Store and the App Store
combined, and more than 500,000 users, El Dorado
has demonstrated its ability to meet the needs of Latin America’s
dynamic financial landscape.
Alessandro Cecere, Co-founder and CMO of El Dorado,
reflected on the platform's rapid expansion: "The explosive growth
we’ve seen over the last two years—including a 12x increase in ARR
in 2024, and over 600,000 downloads—is a testament of our unique
multi-channel acquisition strategy, and an excellent product that
allows us to onboard new users to stablecoins across Latin
America."
The platform’s integration of stablecoins with local financial
networks has addressed critical challenges like currency
instability and high remittance costs. By providing a seamless way
to convert local currencies into digital dollars, El Dorado
empowers users to participate in freer, more efficient cross-border
payments.
Piloting Gasless USDT Transactions With Tron
DAO
In collaboration with Tron
DAO, El Dorado successfully piloted one of the first gasless
transactions using USDT. This campaign eliminated network fees for
users, making digital dollars more accessible and affordable for
cross-border payments. The gasless model marks a significant step
forward in reducing barriers to entry for users across Latin
America, ensuring seamless financial interactions without the
hidden costs typically associated with blockchain technology.
Introducing USDM Self-Custodial Wallets
El Dorado has partnered with Mountain Protocol and Safe to
enable a USDM self-custodial wallet. This wallet allows Latin
American users to securely store their digital assets while
providing access to U.S. Treasuries. By bridging the gap between
traditional finance and blockchain, this collaboration offers users
the opportunity to participate in stable and high-quality financial
instruments previously unavailable to many in the region.
Partnering with Arbitrum Foundation for Faster
Transactions
Through a strategic partnership with the Arbitrum Foundation, El
Dorado is enabling cheaper and faster ways to move digital dollars,
such as Tether (USDT), for over 600,000 Latin Americans. The
collaboration leverages Arbitrum’s efficient and scalable
blockchain infrastructure to reduce transaction costs and improve
speed, empowering users to send and receive digital payments
without friction.
Looking Ahead
As El Dorado builds on its success, the company is dedicated to
furthering its mission of interoperability and financial inclusion.
Upcoming initiatives include expanding partnerships with local
financial institutions, launching educational programs on
stablecoin adoption, and introducing new features for cross-border
and B2B payments powered by Tether. These efforts aim to empower
underserved communities and foster a more resilient financial
ecosystem in Latin America.
About El Dorado
El Dorado is Latin
Americans’s leading Stablecoin-Powered SuperApp that enables users
to buy, sell, and use stablecoins like USDT and USDM across
Argentina, Bolivia, Brazil, Colombia, Panama, Peru, and Venezuela.
With a focus on interoperability, simplicity, and financial
inclusion, El Dorado is transforming how people in the region
transact and manage their finances.
For more information, users can visit
El Dorado or contact the team at
marketing@eldorado.io
Contacts
CMO
Alessandro
Cecere
El
Dorado
marketing@eldorado.io
Growth Marketing
Manager
Bianca
Donnini
El
Dorado
bianca@eldorado.io