Fintech brings DeFi lending to businesses in Mexico

The Mexican fintech announced it is processing the equivalent of $25M in debt financing from TrustToken. The statement is a first-of-a-kind because the financing is done purely in digital assets, specifically in crypto. is a Y Combinator-backed software company that focuses on financial tech, building software that helps businesses make their day-to-day financial management easier, from corporate expenses to eCommerce and digital platforms, and more.

The company launched in Mexico City in 2019 and was part of the Y Combinator accelerator program in San Francisco in 2020. That same year, they launched a corporate card in Mexico. This new line of financing of $25M will be processed through a decentralized finance platform (DeFi) of TrustToken, which is the operator of the stablecoin cryptocurrency TrueUSD. 

The protocol through which this financing takes place is TrueFi: the first-ever blockchain lending marketplace, launched by TrustToken. This event marks a new type of debt financing strategy in Latin America, where DeFi is brought together with traditional finance. 

José de la Luz López, founder, and CEO of the fintech explained to Latamlist why this type of financing is the first of its kind: “We are partnered with TrustToken, which is a major crypto company, they are very well known for their stablecoin project, and right now they released this new marketplace in which they can finally connect institutional companies that deal with traditional finance like we do, with one of the most exciting parts of the crypto industry at the moment, which is decentralized finance.”’s CEO shared in detail how this marketplace works:

“So basically this marketplace allows to put together two very different kinds of users: the users of DeFi protocol and the users of traditional finance, and essentially helps businesses in Latam, particularly in Mexico, to have access to this kind of funds via and TrustToken, while on the other hand, we can bring very interesting returns to the crypto holders of these stablecoins.”

José de la Luz López also told Latamlist about’s plans with this new financing, explaining that now they will focus on growing and placing the debt facility in order to benefit as many companies as needed. He also shared with us that they plan to continue growing some exciting surprises that the company will bring to the market soon.

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