The Argentine startup Xcapit was one of the 7 selected by the UNICEF organization, while a Dash fund was in the Brazilian insurer 88i.
Two Blockchain startups from Latin America received investments this week, albeit from different bodies and in completely separate initiatives.
The United Nations Children’s Fund (UNICEF) announced this week that it will provide financing to the Argentine company Xcapit, which combines artificial intelligence (AI) with cryptocurrency trading. The Argentine startup is one of the seven selected by UNICEF for its financing program aimed at promoting financial inclusion with the use of Blockchain.
Founded in 2018, Xcapit is a platform that leverages AI and Blockchain technology for the exchange of digital assets. Linked to the Binance exchange, it seeks to provide a tool for inclusion and financial freedom. The company offers two main tools: an investment bot and a digital asset index.
Another startup from Latin America was also among those selected by UNICEF for its financing program. This is Bx Smart Labs, from Mexico, a decentralized application to generate savings circles.
The list also includes two Kenyan Blockchain companies, Grassroots Economics and KotaniPay; the startup Rusman, from Nepal; the Indian platform, GovBlocks, and Leaf Global Fintech, from Rwanda. The organization will provide financing to these startups in Ethereum (ETH) currency.
Dash invests in Brazil’s digital insurer
In a separate initiative, Dash’s investment fund, Dash Investment Foundation (DIF), announced an investment of R $ 1.4 million (USD $ 250,000) in 88i Seguradora Digital, a digital insurer originally from Brazil.
As a result, the Brazilian insurance company plans to leverage the investment to implement Dash’s Blockchain technology and grow its business. Rodrigo Ventura, executive director of 88i, commented in this regard that the firm will invest “in technologies that allow us to register a large number of insurance products and finally democratize insurance in Brazil.”
Founded in 2018, 88i claims to be the first Brazilian digital insurer focused on clients and service providers in the mobility, delivery, fintech and eCommerce industries. For this year, the digital insurer expects to sell 50,000 policies, reach revenues of R $ 7 million and forecast more ambitious results for 2022.
The company already has the seal of approval from the national regulator, Superintendencia de Seguros Privados (SUSEP), as well as strategic agreements with firms in the sector such as Pic Pay, Vá de Taxi, U4Crypto and Bitfy.
Featured news from Latin America
Among other weekly news of cryptocurrencies and Blockchain in Latin America and the Caribbean.
After El Salvador’s announcement, a wave of interest in Bitcoin adoption is flooding the region. In Panama, independent deputy Gabriel Silva indicated this week that he is preparing a bill related to Bitcoin and hopes to bring it to the National Assembly next month.
Paraguayan deputy Carlos Antonio Rejala Helman also revealed similar plans. On Thursday, Helman reported that he will present a bill to regulate cryptocurrencies in that country in July.
Meanwhile, in El Salvador, three government ministries are discussing the possibility of salaries being paid with Bitcoin, once the asset is officially legal tender in the country. CABEI will help the Central American country in the implementation of Bitcoin but the World Bank said it will not be able to help given the environmental and transparency deficiencies.
In other regional news, telecommunications service provider GoldConnet started accepting cryptocurrency payments. In Colombia, the Ministry of Technology (MinTIC) is promoting the use of Blockchain among companies through a new national program. And a first Bitcoin exchange-traded fund (ETF) will arrive in Brazil at the end of the month.
