El Dorado Completes $9M Series A Led by Paradigm

Huo Xing Finance reports, according to The Block, venture capital firm Paradigm led a $9 million Series A funding round for Latin American cross-border payment app El Dorado, with Coinbase Ventures and Verda Ventures also participating. El Dorado states that the Latin American cross-border payment market is nearing $1 trillion, primarily driven by remittances from the U.S. to Latin America, with approximately 60% tied to B2B trade payments. The company focuses on underserved “internal corridors” such as Brazil–Bolivia, which traditional players have overlooked, and has already amassed over 100,000 active users and processed more than 5 million transactions. El Dorado has also launched a cross-border payment service for businesses, integrating stablecoins and fiat channels, serving over 100 companies, primarily for importing electric vehicles from China. This business is built on Tempo, a Layer 1 blockchain incubated by Paradigm and Stripe.