Bitnexo Wins South American Final of BBVA Competition – The Basics about Cryptocurrency

Bitnexo co-founder and CEO Darren Camas receiving his prize.

Bitcoin-based platform Bitnexo has been announced as the joint winner in the Latin American final of BBVA’s Open Talent competition.

The startup, which intends to facilitate international money transfers between Asia and Latin America, will receive a €30,000 prize ($33,939) as well as the chance to join a two-week networking programme in Mexico and London.

The other winning company was Destacame, a Chilean startup that helps people gain access to credit.

Hugo Nájera, head of digital banking at BBVA Bancomer, commented on the innovative potential of startups in the region, saying:

“Latin American startups have demonstrated some really innovative proposals within FinTech.”

BBVA’s Open Talent competition features nine crypto startups and is split into three regional finals.

Bitwage, Coinalytics, SnapCard and Voatz began competing in New York yesterday alongside startups from the US and other parts of the world. The final is due to take place today.

The European final, held in Barcelona, where Everledger, Safello and Vaultoro will compete, is scheduled for 21st and 22nd of September.

Winner image via Shutterstock.