El Dorado SuperApp Surpasses 500K Users
El Dorado SuperApp Surpasses 500,000 Users
Buenos Aires, Argentina, January 21st, 2025
El Dorado, Latin America's leading superapp for stablecoin payments, has achieved remarkable milestones, solidifying its position as a key player in bridging the gap between stablecoins and top financial applications in the region. Its peer-to-peer USDT marketplace is facilitating access to digital dollars and streamlined cross-border payments.
Venezuela's Top Crypto App
In 2024, El Dorado P2P was the most downloaded cryptocurrency app in Venezuela. The app's adoption reflects the growing use of Tether as a digital dollar for everyday transactions and as a hedge against currency devaluation. El Dorado also ranked among the top 5 finance apps in Venezuela, boasting over 28,000 reviews on the Google Play Store.
Stablecoin SuperApp for Latin America
El Dorado connects stablecoins like Tether (USDT) and MountainUSD (USDM) to over 70 of the region's top financial apps. By overcoming the interoperability challenges between digital dollars and traditional finance, El Dorado has become the region's leading peer-to-peer stablecoin marketplace, processing over three million Tether transactions.
Guillermo Goncalvez, El Dorado's Co-founder and CEO, stated: "In just two years, we've achieved $2.7 million in Annual Recurring Revenue (ARR), demonstrating the power of our marketplace's network effects and the trust we've built with our users. By addressing the interoperability gap, we're fostering freer currency markets and enabling previously costly or inaccessible cross-border transactions."
Record Growth
With over 500,000 downloads across the Google Play Store and App Store, and 500,000 users, El Dorado is effectively meeting the demands of Latin America's dynamic financial landscape.
Alessandro Cecere, El Dorado's Co-founder and CMO, noted: "Our explosive growth over the past two years—including a 12x increase in ARR in 2024 and over 600,000 downloads—is a testament to our multi-channel acquisition strategy and a product that successfully introduces users to stablecoins across Latin America."
El Dorado's integration of stablecoins with local financial networks addresses key issues like currency instability and high remittance fees. By simplifying the conversion of local currencies into digital dollars, El Dorado empowers users with more efficient cross-border payments.
Key Partnerships and Initiatives
- Gasless USDT Transactions with Tron DAO: El Dorado piloted gasless USDT transactions, eliminating network fees and improving accessibility.
- USDM Self-Custodial Wallets: Partnership with Mountain Protocol and Safe enables secure USDM storage and access to U.S. Treasuries.
- Faster Transactions with Arbitrum Foundation: Partnership with Arbitrum improves the speed and cost-effectiveness of Tether transactions for over 600,000 Latin Americans.
Looking Ahead
El Dorado plans to expand partnerships with local financial institutions, launch stablecoin education programs, and introduce new features for cross-border and B2B payments powered by Tether. These initiatives aim to further financial inclusion in Latin America.
About El Dorado
El Dorado is Latin America's leading stablecoin superapp, enabling users to buy, sell, and use stablecoins like USDT and USDM. With a focus on interoperability and financial inclusion, El Dorado is transforming how people in the region manage their finances. Learn more at eldorado.io.