El Dorado Expands Ecosystem with BNB Chain Support for USDT and USDC
El Dorado, a Latin American fintech platform, has expanded its ecosystem by adding support for BNB Chain deposits of USDT and USDC. This integration enables users in seven countries to convert their local currencies into dollar-backed stablecoins through peer-to-peer trades without bridging funds from other networks.
El Dorado allows users to send remittances across borders, save in digital dollars, and trade between local fiat and stablecoins within a single app. Before the BNB Chain integration, El Dorado supported deposits and withdrawals through Arbitrum, Polygon, TRON, and Celo.
The network held around $14 billion in stablecoin liquidity as of Q1 2023, making it one of the deeper pools for USDT and USDC transactions. This is particularly significant in countries like Argentina, where the peso lost more than half its purchasing power in 2023 alone.