Bitso: licences, security, fees and reviews
Centralized exchange
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Key facts
- Type
- Centralized exchange
- Exchange launched
- 2014
- Country of registration
- Gibraltar
- Operator
- The Badger Technology Company Limited (Bitso International)
- Official site
- bitso.com
Key facts checked on 29 October 2026 against official sources and regulator registers.
What is Bitso
Bitso is a Latin American centralised crypto platform, founded in 2014, whose services are offered by The Badger Technology Company Limited (Bitso International), which holds a Gibraltar DLT licence. Its app covers buying, selling and earning on crypto, more than 5,000 global stocks and ETFs, and cross-border transfers; Bitso Alpha is its trading platform and Bitso Business serves companies.
Good to know
- Bitso International (Gibraltar) provides the crypto services; payments in local currencies are handled by separate Nvio companies in Mexico, Brazil, Argentina and Colombia. ↗
- The Gibraltar DLT licence awarded in October 2019 allows Bitso to store and transmit value belonging to others using blockchain technology. ↗
- In Argentina, the CNV register of virtual asset service providers (PSAV) lists The Badger Technology Company Argentina S.A.U., trade name Bitso, as no. 164, registered on 18 March 2026. ↗
- Bitso's safety page states that operations of Nvio Pagos Colombia through Banco de Bogotá are regulated by the Superintendencia Financiera under its regulatory sandbox; Bitso's trust page describes Nvio Pagos Colombia S.A.S. as a payment services provider regulated and surveilled in AML/ATF, privacy and corporate matters. No SFC record is cited. ↗
- Perpetual futures are offered on onchain.cc, a separate self-custody platform operated by Nvio Pagos El Salvador. Hyperliquid charges its own trading fee on top of Bitso's 0.05%. ↗
- A Bitso blog post dated 30 July 2025, since removed from the blog, announced monthly proof-of-solvency reports built with Proven and downloadable from each user's profile; at launch they covered only bitcoin and ether. ↗
- The Coincover guarantee covers almost all of Bitso's digital assets and applies if Bitso's own wallets are compromised. ↗
- Trading fees differ by quote market: at the base tier MXN markets charge 0.600% maker and 0.780% taker, while BRL markets charge 0.200% and 0.400%. ↗
- The published spot trading, deposit and withdrawal fees apply only to Bitso International's exchange platform for buying, selling and storing crypto; Bitso Business is priced separately. ↗
Services
| Parameter | Details |
|---|---|
| Spot trading | Order-book trading with maker-taker fees in MXN, ARS, BRL, COP, USDC, USDT, USDS and BTC markets. |
| Stocks and ETFs | More than 5,000 global stocks and ETFs in the same app as crypto. |
| Staking / Earn | Earnings on held assets such as USDC, USDT, ETH, DOT, ATOM and SOL, paid every Monday with no lock-up. |
| Fiat deposits | Local-currency payments in Mexico, Brazil, Argentina and Colombia handled by Nvio payment companies (SPEI, PIX, COELSA and bank transfers). |
| Derivatives | Perpetual futures (300+ markets) on onchain.cc, a separate self-custody platform built by Bitso and operated by Nvio Pagos El Salvador. |
Licences and registrations
| Jurisdiction | Entity | Licence / registration | Regulator |
|---|---|---|---|
| Gibraltar | The Badger Technology Company Limited (Bitso International) | Distributed Ledger Technology (DLT) provider licence, awarded 8 October 2019 | Gibraltar Financial Services Commission (GFSC) |
| Argentina | The Badger Technology Company Argentina S.A.U. (trade name Bitso) | Virtual asset service provider (PSAV) registration no. 164, dated 18 March 2026: exchange, transfer and custody of virtual assets | Comisión Nacional de Valores (CNV) |
| Argentina | Nvio Pagos Argentina S.A.U. | Payment service provider offering payment accounts (PSPCP), handles ARS payments | Central Bank of Argentina (BCRA) |
| Mexico | Nvio Pagos México, S.A.P.I. de C.V. | Bitso states it is a licensed electronic payment funds institution (IFPE) regulated under Mexico's Fintech Law; handles MXN payments | Mexico's Fintech Law framework (as stated by Bitso; no register entry quoted) |
| Brazil | Nvio Brasil Bitso Instituição de Pagamento Ltda. | Payment institution (instituição de pagamento), CNPJ root 35.136.120; handles BRL operations | Central Bank of Brazil (BCB), register of operating institutions |
| Brazil | Nvio Brasil Sociedade de Crédito Direto S.A. | Direct credit company (sociedade de crédito direto), CNPJ root 51.118.718; the register lists bitso.com/br as its website | Central Bank of Brazil (BCB), register of operating institutions |
| Colombia | Nvio Pagos Colombia S.A.S. | Bitso's safety page states that COP operations through Banco de Bogotá are regulated by the SFC under its regulatory sandbox; its trust page describes the company as a payment services provider regulated in AML/ATF, privacy and corporate matters | Superintendencia Financiera de Colombia (as stated by Bitso; no register entry quoted) |
Status in the United States and the United Kingdom
- A search of the FCA Financial Services Register on 29 October 2026 for “Bitso” and for its international operator, The Badger Technology Company Limited, returned no results. FCA Financial Services Register
- Under regulation 56 of the UK Money Laundering Regulations 2017, subject to limited exceptions, a cryptoasset exchange provider or custodian wallet provider may act as one only once included in the appropriate register. Money Laundering Regulations 2017, reg. 56
- The New York DFS list of regulated virtual currency entities contained no entry for Bitso, The Badger Technology Company Limited or the Nvio payment companies when checked on 29 October 2026. NYDFS, Virtual Currency Business Licensing — Regulated Entities
- FinCEN's MSB Registrant Search, which FinCEN describes as containing most entities with a current MSB registration, had no entry for Bitso, The Badger Technology Company Limited or the Nvio payment companies when the full list was checked on 29 October 2026. FinCEN MSB Registrant Search
Checked on 29 October 2026 against regulator registers and the text of the law.
Security and audits
- Customer funds are segregated from corporate capital and held in multi-signature wallets, with regular independent third-party audits.
- Certified to ISO/IEC 27001:2022.
- Coincover insurance-backed guarantee covering almost all of Bitso's digital assets if its own wallets are compromised.
- Two-factor authentication, an option to enable or disable withdrawals, device and session management, and a Bugcrowd bug bounty programme.
- 24/7 threat detection and monitoring, an in-house cybersecurity team and Quetzal, an in-house Web3 threat research unit.
Fees
| Parameter | Details |
|---|---|
| Spot maker | 0.600% in MXN markets and 0.300% in USDC/USDT markets at the base tier; lower with 30-day volume |
| Spot taker | 0.780% in MXN markets and 0.360% in USDC/USDT markets at the base tier |
| Futures maker | 0.05% Bitso fee on perpetuals, plus Hyperliquid's own trading fee |
| Futures taker | 0.05% Bitso fee on perpetuals, plus Hyperliquid's own trading fee |
| Deposits | Free for listed crypto networks and for local methods (SPEI, PIX, COELSA, bank transfer) |
| Withdrawals | Fixed fee per crypto network, e.g. 0.00001543 BTC on the Bitcoin network; Lightning, SPEI and PIX withdrawals free |
Who can use it
- Verification: KYC and customer due diligence apply to all users.
- Not available to persons resident or located in Spain; eligibility depends on citizenship, domicile or residence, and not all products are offered in every jurisdiction. Perpetuals are subject to jurisdictional restrictions.
History
| Date | Event |
|---|---|
| 2014 | Bitso was founded. |
| 8 October 2019 | The Gibraltar Financial Services Commission awarded Bitso a full DLT licence. |
| 12 May 2021 | The Gibraltar government welcomed Bitso's $255 million Series C equity round led by Tiger Global and Coatue. |
| 18 March 2026 | Argentina's CNV entered The Badger Technology Company Argentina S.A.U. (Bitso) in its register of virtual asset service providers as no. 164. |
Risks and caveats
- Products and services are not guaranteed or insured by any government or public authority.
- Not authorised under the EU MiCA regulation; services are not available in Spain.
- Perpetual futures on onchain.cc carry a risk of total loss and are subject to jurisdictional restrictions.
- A search of the FCA register for "Bitso" (29 October 2026) returned no results, and no entity named Bitso or The Badger Technology Company appears in the FSA register of crypto-asset exchange businesses (list as of 30 September 2026).
About the company
- Legal entity
- The Badger Technology Company Limited (Bitso International)
- Country of incorporation
- Gibraltar (incorporation no. 117775, 21 August 2018), per the GFSC register
- Founded
- 2014
- Founders
- Daniel Vogel (co-founder)
- CEO
- Daniel Vogel (as of May 2021)
Official links
- Website: bitso.com
- Fees: bitso.com/fees
- Security: bitso.com/trust
- Licences: bitso.com/safety
- Terms of use: bitso.com/terms
- Status: status.bitso.com
- Blog: bitso.com/blog
Questions and answers
Is Bitso regulated?
Bitso International holds a DLT provider licence from the Gibraltar Financial Services Commission (8 October 2019). In Argentina its local company is on the CNV register of virtual asset service providers, and local-currency payments run through Nvio payment companies.
Does Bitso publish proof of reserves?
Bitso says it runs monthly third-party zero-knowledge audits, verifiable from each account, that show its reserves match or exceed user assets. A Bitso blog post dated 30 July 2025, since removed, said the proof was launched with Proven and at first covered only bitcoin and ether.
What are Bitso's fees?
Maker-taker fees fall with 30-day volume; at the base tier MXN markets charge 0.600% maker and 0.780% taker. Perpetuals cost 0.05% plus Hyperliquid's fee, and crypto withdrawals carry a fixed network fee.
Who owns Bitso?
Services are offered by The Badger Technology Company Limited (Bitso International); Daniel Vogel is a co-founder. Ownership of the company is not disclosed.
Is Bitso available in the EU?
Bitso is not authorised under MiCA, and its services are not available to people resident or located in Spain.
Which Bitso company serves me?
Crypto services come from Bitso International (The Badger Technology Company Limited). Local-currency payments run through Nvio companies in Mexico, Brazil, Argentina and Colombia, and perpetuals on onchain.cc through Nvio Pagos El Salvador.
Are funds at Bitso insured?
Bitso's products are not guaranteed or insured by any government or public authority. A Coincover guarantee covers almost all of Bitso's digital assets if Bitso's own wallets are compromised.
Is Bitso registered in the UK or Japan?
A search of the FCA register for "Bitso" (29 October 2026) returned no results, and no entity named Bitso or The Badger Technology Company appears in the FSA register of crypto-asset exchange businesses (list as of 30 September 2026).
Sources
- Bitso — Trust
- Bitso — Trading fees
- Bitso — Deposit and withdrawal fees
- Bitso — Safety: compliance and governance
- Bitso — Home
- Bitso blog — Zero-Knowledge Proof to Show Solvency (archived copy, 7 November 2025; post since removed)
- CNV Argentina — Register of virtual asset service providers (PSAV)
- BCRA — Register of payment service providers offering payment accounts
- HM Government of Gibraltar — Press release 729/2019 (Bitso DLT licence)
- HM Government of Gibraltar — Press release 367/2021 (Bitso Series C)
- Banco Central do Brasil — Register of operating institutions (open data)
- FCA — Financial Services Register search
- FSA Japan — Register of crypto-asset exchange service providers
- GFSC — Register entry: The Badger Technology Company Limited (archived copy, 24 April 2024)
- Money Laundering Regulations 2017, reg. 56
- NYDFS, Virtual Currency Business Licensing — Regulated Entities
- FinCEN MSB Registrant Search
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