Paradigm backs El Dorado with $9M to modernize Latin American payments

Founded in 2022, El Dorado currently facilitates transactions for over 100,000 active users across 12 countries, including Brazil, Argentina, and Bolivia. The platform has already processed more than 5 million transactions, targeting payment corridors often neglected by major fintech incumbents like Nubank or Wise. Ricardo de Arruda, an investment partner at Paradigm, noted that the region suffers from slow and opaque systems despite annual cross-border flows exceeding $100 billion.

El Dorado CEO Guillermo Goncalvez estimates the actual market potential is closer to $1 trillion, with roughly 60% of volume tied to U.S.-Latin American business-to-business trade. To capture this, the company has launched a dedicated corporate platform built on the Tempo blockchain—a network developed by Paradigm and Stripe. This service integrates fiat and stablecoin rails, supporting complex multi-signature account structures. The technology is already seeing adoption among corporate clients, notably for financing electric vehicle imports from China. For Paradigm, the investment reflects a broader strategy to integrate stablecoin infrastructure into global commerce, following recent efforts to influence U.S. regulatory policy regarding third-party reward programs.