Overview
- Paradigm led a $9 million Series A in El Dorado with participation from Coinbase Ventures and Verda Ventures, confirming investor backing for the startup’s growth strategy.
- El Dorado operates a consumer peer-to-peer app that the company says relies on USDT on Arbitrum and has processed millions of transactions, with user counts reported between about 100,000 active users and more than 1 million overall.
- The company has launched a business payments product built on the Tempo blockchain and says it has onboarded more than 100 corporate clients to handle cross-border trade flows.
- Paradigm framed the deal as a bet on Latin America’s large cross-border payment volume, which the firm says exceeds $100 billion annually and remains served by slow, costly rails.
- Scaling faces a major operational risk from fragmented and evolving regulations across Latin American jurisdictions, and El Dorado’s integrations with 70-plus local payment systems will be key to whether the startup can expand safely and at scale.