Paradigm Leads $9M Series A Round for El Dorado to Expand Cross-Border Payments in Latin America

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Paradigm led a $9 million Series A round for El Dorado, a cross-border payment initiative based in Latin America. The round also included Coinbase Ventures and Verda Ventures. El Dorado focuses on underserved corridors such as Brazil-Bolivia, serving over 100,000 active users and processing 5 million transactions. The company recently launched a B2B service supporting both stablecoins and fiat currencies, serving more than 100 businesses, primarily for EV imports from China. This funding announcement underscores its growing on-chain presence in the region.

PANews, June 15: 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 participation from Coinbase Ventures and Verda Ventures. El Dorado estimates the Latin American cross-border payment market at nearly $1 trillion, currently dominated by remittances from the U.S. to Latin America, approximately 60% of which are B2B trade-related payments. The company focuses on under-served “internal corridors,” such as Brazil–Bolivia, where traditional players have not operated, and has amassed over 100,000 active users with more than 5 million transactions processed. El Dorado has also launched a cross-border payment service for businesses, integrating stablecoins and fiat channels, and has served over 100 companies, primarily for importing electric vehicles from China.

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