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About El Dorado
El Dorado is a cryptocurrency wallet targeting Latin America, operating on the Arbitrum network using USDT (Tether). Its core business involves storing, transferring, and exchanging USD-pegged stablecoins, enabling peer-to-peer trading between local currencies (e.g., Argentine peso, Colombian peso) and USDT. It also issues a prepaid card in partnership with Visa, allowing users to spend their dollar balances directly. The platform integrates QR code payments, compatible with several local payment systems in the region, including Brazil's PIX.
Its competitive edge lies in using stablecoins to bypass high cross-border remittance fees and exchange rate losses associated with traditional banks, while reducing local currency conversion costs through peer-to-peer trading networks. The platform claims over 1 million registered users across 7+ Latin American countries and has processed more than 4 million peer-to-peer transfers.
The market pain points include high inflation, local currency depreciation, low bank account penetration, and expensive cross-border remittance costs prevalent in Latin America. El Dorado provides a dollar-pegged digital asset that allows users to preserve purchasing power and conduct low-cost international transfers without needing a traditional bank account.
Public information from the last six months (March to September 2026) is limited. According to its website and social media, the platform continues to expand services, including launching a B2B payment tool (El Dorado Business) and emphasizing API integration capabilities. Additionally, it has been refining its prepaid card and QR payment experience, but no specific user growth figures or major regulatory changes have been disclosed. No public reports of security incidents or legal disputes were found.
El Dorado has made significant strides in H1 2026. In June, the company closed a $9M Series A round led by Paradigm, with participation from Coinbase Ventures. The funds will accelerate the expansion of its B2B payment infrastructure.
In July, El Dorado launched El Dorado Business, a B2B platform built on Tempo, a high-performance blockchain supporting over 100,000 TPS with sub-second finality. The platform integrates Zerion API webhooks for real-time payment notifications, eliminating the need for indexers or polling infrastructure.
In August, El Dorado added BNB Chain support for USDT and USDC deposits, enabling direct stablecoin transactions without bridging. This complements existing support for Arbitrum, TRON, and Celo, further reducing friction for its 1.15 million users across Latin America.
Looking ahead, El Dorado's roadmap focuses on deepening multi-chain integration and expanding its B2B cross-border payment solutions, aiming to make international money transfers as simple as sending a message.
Guillermo Goncalvez Espiga (Co-Founder & CEO): Over 10 years in crypto, graduated from Universidad Metropolitana de Caracas. Led El Dorado since April 2020.
Oscar Ernesto Patiño Hernández (Co-Founder & COO): Graduate of Universidad Católica Andrés Bello. Previously co-founded El Dorado and other ventures; oversees operations and compliance.
Juan Andreu (CTO): Software architect with 15+ years in development, joined as CTO in April 2021. Focuses on building a digital currency marketplace for Latin America.