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El Dorado raises $9 million Series A led by Paradigm

El Dorado raises $9 million Series A led by Paradigm

Paradigm’s backing highlights growing attention on stablecoin-based payments in Latin America, where inflation and cross-border frictions are pushing users and businesses toward alternative financial rails.

Fact Check
The Block article directly quotes both Paradigm and El Dorado confirming Paradigm led a $9 million Series A in the Latin American cross-border payments app El Dorado. CryptoBriefing independently corroborates the $9M raise led by Paradigm and the stablecoin/LatAm payments framing. Both align fully with the claim, including the emphasis on stablecoin-based payments in Latin America driven by inflation and cross-border frictions.
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Summary

El Dorado has secured a $9 million Series A financing round led by Paradigm, with Coinbase Ventures and Verda Ventures also participating. The Latin American cross-border payments app operates in 12 countries, including Argentina, Brazil and Colombia, and said it has more than 100,000 active users and has processed over 5 million transactions. After the funding, El Dorado launched an enterprise payments product based on the Tempo Layer 1 blockchain incubated by Paradigm and Stripe. Paradigm’s investment points to broader interest in stablecoin-powered payment tools in Latin America, where inflation and costly cross-border transfers have increased demand for faster and cheaper alternatives for consumers and businesses.

Terms & Concepts
  • Series A: An early-stage funding round for startups.
  • stablecoin: A digital token designed to maintain a stable value, often by being pegged to a fiat currency.
  • Layer 1 blockchain: A base-layer blockchain network that processes and settles transactions on its own chain.