Paradigm Leads $9M Round for LatAm Payments App El Dorado

TLDR

• Paradigm leads $9M round to expand El Dorado’s LatAm payment rails.

• El Dorado raises $9M to grow stablecoin transfers across Latin America.

  

• Coinbase Ventures joins Paradigm in backing El Dorado’s LatAm growth.

• El Dorado targets underserved cross-border payment corridors in LatAm.

• Paradigm expands stablecoin push with El Dorado’s $9M Series A.

Paradigm led a $9 million Series A round for El Dorado as the payments app expands stablecoin transfers in Latin America. Coinbase Ventures and Verda Ventures also joined the round. The deal supports faster cross-border payments across markets that still depend on costly and slow systems.

El Dorado Targets Underserved Payment Corridors

El Dorado will use the funding to expand payment services across Latin America. The company focuses on cross-border transfers for consumers and businesses. It also uses stablecoins and fiat rails to support faster settlement.

Paradigm said Latin America moves more than $100 billion across borders each year. Many routes still face high fees, delays, and poor transparency. El Dorado aims to build stronger payment infrastructure for those markets.

The company was founded in 2022 by Latin American immigrants. It now serves more than 100,000 active users across the region. It has also processed over 5 million transactions since launch.

Stablecoin Rails Support Business Payments

El Dorado operates in 12 countries, including Argentina, Bolivia, Brazil, Colombia, Costa Rica and Ecuador. It also serves the Dominican Republic and other regional markets. The company targets payment corridors that larger fintech firms often overlook.

Chief Executive Guillermo Goncalvez placed Latin America’s wider cross-border payment market near $1 trillion annually. He said business payments form a major share of that activity. Imports and exports between the United States and Latin America drive much of the volume.

Internal corridors also show strong demand. El Dorado cited Brazil and Bolivia as one of its busiest routes. The company said markets like Bolivia, Paraguay, Ecuador, and Peru remain underserved.

Paradigm Extends Stablecoin Payment Strategy

El Dorado has also launched a business platform for companies moving money across borders. The product combines stablecoin and fiat payment rails in one application. It also supports multi-signature and multi-organization account structures.

The company said more than 100 business customers have joined the platform. Electric vehicle imports from China have become a common use case. That demand shows how stablecoins can support trade flows across less-developed payment routes.

The business payments service runs on Tempo, a Layer 1 blockchain developed through Paradigm and Stripe. Tempo supports accounts for companies with or without a U.S. legal entity. As a result, El Dorado now sits within Paradigm’s broader stablecoin infrastructure push.

Paradigm has increased its activity across payments, blockchain infrastructure, and stablecoin policy this year. The firm also worked with Stripe on Tempo and backed other private-market deals. Therefore, the El Dorado round strengthens its focus on stablecoin-based financial rails.

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