Azteco Raises $6 Million to Boost Bitcoin Adoption

Azteco's Mission to Democratize Finance

Azteco, a company based in Santa Monica, California, has secured $6 million in funding, led by Block Inc. CEO Jack Dorsey. The company's primary goal is to accelerate Bitcoin adoption by introducing Bitcoin gift cards. This initiative aims to elevate Bitcoin's status to that of traditional fiat currencies like the US dollar, making it a mainstream and widely accepted form of payment.

Bitcoin Gift Cards: A New Financial Frontier

Azteco's introduction of Bitcoin gift cards is a strategic move to democratize finance globally. By shifting away from centralized control of fiat currencies, which often leads to corruption, Azteco intends to develop a politically and financially neutral currency. With a reach extending to nearly 600,000 payment locations in about 200 countries, the company aims to make Bitcoin accessible to the unbanked population, particularly addressing issues faced by approximately 4.5% of unbanked households in the United States.

Jack Dorsey's Continued Support for Bitcoin

Jack Dorsey's involvement in the funding round highlights his ongoing commitment to the cryptocurrency space. Earlier, he pledged $5 million to support Bitcoin developers, distributing the funds over five years to encourage innovation within the Bitcoin ecosystem. His dedication extends beyond financial support, as seen in his efforts to promote Africa's Web3 talent development.

Advancing Bitcoin Development in Africa

In collaboration with Jay-Z, Dorsey co-founded the Bitcoin non-profit organization Btrust, which recently acquired Qala, an African company focused on training Bitcoin and Lightning engineers. This acquisition, now rebranded as the Btrust Builders Program, represents a strategic effort to nurture African Bitcoin talent and bridge the development gap on the continent. This initiative underscores a commitment to fostering growth and expertise in Web3 technologies across Africa.