The initiative is among the most prominent emerging companies in Orlando, Florida. The venture, led mostly by Venezuelans, is licensed to operate in Estonia.
The Mercury Cash team, an initiative native to Venezuela has managed to consolidate in the USA an exchange and wallet platform for Bitcoin, Ether and Dash. The company facilitates the exchange of cryptocurrencies to fiat and is now seeking to settle in Europe.
This Latin American enterprise that promoted its bases in one of the most vulnerable territories of the continent, Venezuela, considers that emerging companies are playing a fundamental role in the task of helping the region’s private sector to be more innovative.
The team’s objective is to offer good services to meet the needs of the demanding Latin American market. They note that they demand themselves to respond to their more than 10,000 users, 90% from Latin America, who they provide with a cryptocurrency bridge to fiat.
The leading cryptocurrency startup team, given the difficulties faced in Venezuela, knows that the inhabitants of the region are challenging the rest of the planet. They are undergoing many problems, such as limitations on access to financing or the resolution of difficulties due to the need to aspire to global markets.
From Venezuela to Florida
Víctor Romero, from Venezuela, says that the exchange control established in that country forced him to go to the black market to acquire foreign exchange. At that time, he did not know the world of cryptocurrencies.
Romero adds that he had heard about Bitcoin, but the first time that he really paid attention to the subject was at an international event held in Panama in 2012. Two years later he decided to emigrate to Florida, in the USA, but one of his biggest concerns was how to send money to his relatives in Venezuela.
A short time later they decided to create their own platform with a wallet service whose priority was to offer Latin America facilities to exchange cryptocurrencies for fiat. They soon launched a round of financing to raise capital.
In that way, they got support from major Florida venture capital companies, such as Merging Traffic, which invested USD 500,000. A couple of months later, in another round of financing, they caught the attention of the former president of Disney World, who invested USD 300,000.
Then, they took steps that allowed them to move forward to consolidate in the ecosystem. Later they became members of the Ethereum Enterprise Alliance, just before officially launching the platform, which on its first day had about 200 users, mostly Latin Americans.
Mercury Cash has a license issued by Estonia to operate in the world of cryptocurrencies, something that the ecosystem usually recognizes as an award of maximum prestige. This is due to the reputation that that country has earned as one of the safest places in the world to invest in crypto assets.
Estonia’s commercial legislation encourages investors to create companies, establishing simple registration procedures, along with a transparent tax system. With a promising market and a government that supports cryptocurrency initiatives, that country is of great attraction for companies seeking to conduct business, something that Víctor Romero confirms thanks to the experience of Mercury Cash.
By Willmen Blanco