Bitso
Bitso
A custodial LATAM platform with over 9M users, the region's first crypto unicorn, also offering US fractional share trading. The card has been discontinued and the focus has shifted to the exchange, with a Trustpilot score of 2.4/5.
Data & conditions
| Account fee | Free |
|---|---|
| IBAN | condiviso |
| Multi-currency | Yes · 5 currencies |
| Outbound transfers to third-party IBANs | Yes |
| Utility direct billing | No |
| SEPA direct debit (SDD) | No |
| On-chain crypto withdrawal | Yes |
| Interest on balance | 5% |
| ATM withdrawal | not declared |
| Fund custody | Custodial (platform holds funds) |
| KYC | Full |
| Supported countries | LATAM · 4+ countries |
| Regulator | CNBV (MX), CVM (BR) |
| OAM Italy registration | No |
| Segment | B2C, B2B |
| MiCA / License status | Money transmitter |
Plans & pricing
Strengths
- 9M+ users; primo unicorn crypto LATAM; trading shares frazionarie US.
- No notable sovereignty advantage documented.
Weaknesses
- Card discontinued; focus exchange; Trustpilot 2,4/5.
- Custodial: the platform holds your funds and can freeze or lose them.
- Full KYC required: verified identity, zero pseudonymity.
Verdict
Although it is the region's first crypto unicorn with over 9 million users and oversight from CNBV in Mexico and CVM in Brazil, the score drops to the C band: the card has been discontinued, focus has shifted to the exchange, and a 2.4/5 Trustpilot signals real user friction. Scale and licences reassure, but the actual experience and the abandoned card product lower its consumer protection.
On this lens Bitso remains a custodial exchange with full KYC, where the user hands custody and identity to the platform. Opening up to US fractional-share trading widens the offering but does not shift the centre of gravity: no self-custody and no on-chain privacy, so a weak crypto-native profile despite the pioneering history.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Bitso a real bank?
Bitso operates under a Money transmitter licence. It is regulated by CNBV (MX), CVM (BR). The deposit-protection scheme is not documented for this service; check the official terms.
Can I send transfers to third-party IBANs with Bitso?
The ability to send transfers to third-party IBANs is not documented; check the official website.
Does Bitso support direct debits and utility billing?
SEPA direct debit (SDD): not documented. Utility-bill domiciliation: not documented.
Which fiat currencies does Bitso support?
The number of supported fiat currencies is not documented. Multi-currency accounts: not documented.
Can I withdraw crypto on-chain from Bitso?
On-chain crypto withdrawal is not documented; check the official website.
Sources
- Official service page Plans & pricing · Regulatory framework · Founders · OAM Italy registry · +4 Data verified on Jun 13, 2026
- bleap.finance Card issuance fee · FX markup · ATM fees · Cashback · +1 Data verified on Jun 15, 2026
- support.bitso.com Card issuance fee · Cashback Data verified on Jun 15, 2026
- app.dealroom.co Valuation · Investors Data verified on Jun 14, 2026
Show 6 more sources
- firebounty.com Bug bounty Data verified on Jun 14, 2026
- hacken.io Third-party audit Data verified on Jun 14, 2026
- lei-lookup.com Legal name · Company type Data verified on Jun 14, 2026
- mexicobusiness.news SEPA fee Data verified on Jun 14, 2026
- startupintros.com Valuation · Investors · Latest funding round Data verified on Jun 14, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 13, 2026