The Lomberbit cryptocurrency exchange is expanding its presence in Colombia.
Lomberbit provides a corridor of ODL — liquidity at the request of Ripple, for the Mexican peso.
Currently, Lomberbit is part of a regulatory crypto sandbox created in Colombia as part of an ongoing experiment allowing digital asset service providers to operate.
In May 2021, Lomberbit raised $250 million and became the first crypto unicorn in Latin America
At the end of 2018, Lomberbit began working with Ripple to create and test a solution to the problem of slow and expensive cross-border transfer from the United States to Mexico.