El Dorado Raises $3M to Build Crypto Payments Superapp for Latin America
El Dorado, a Colombia-based stablecoin protocol, has raised $3 million in a seed venture capital investment round to develop a crypto payments "superapp" for Latin America. Multicoin Capital led the investment, with participation from Coinbase Ventures, UC Berkeley Skydeck, and Awesome People Ventures. El Dorado aims to provide a cheaper way to send, exchange, and pay using blockchain as payment rail, with a 0.6% fee for cross-border payments and free in-app payments. The app supports Tether's USDT, Circle's USDC, and Celo Dollar stablecoins, as well as bitcoin transactions.
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