Azteco

Azteco operates within the financial technology sector, specifically focusing on facilitating Bitcoin access for individuals without requiring a traditional bank account, credit card, or even an online exchange account. The company was founded in 2014 by Akin Fernandez and Paul Ferguson. Fernandez, a long-time Bitcoin advocate, envisioned a simpler, more accessible on-ramp to the Bitcoin network, drawing an analogy to how top-up vouchers for mobile phones work. This vision directly shaped Azteco's core service.

The business functions as a Bitcoin voucher platform, enabling consumers to purchase Bitcoin in fixed, local currency amounts from a global network of vendors. The process is designed for simplicity: a customer buys a physical or digital Azteco voucher, which contains a unique 16-digit code. This code can then be redeemed directly into any Bitcoin wallet by entering it on the Azteco website. This model eliminates the complexities and barriers often associated with cryptocurrency exchanges, such as lengthy KYC procedures and the need for a linked bank account. The company generates revenue by charging a fee to its distributors and partners who sell the vouchers.

Azteco targets the unbanked and underbanked populations, as well as individuals seeking a straightforward and private method to acquire Bitcoin. Its market is global, with a distribution network spanning numerous countries. The service's primary benefit lies in its accessibility and ease of use, effectively turning local shops into Bitcoin purchasing points. This approach broadens participation in the Bitcoin economy to those who might otherwise be excluded by the conventional financial system. Milestones for the company include securing a $6 million seed funding round in early 2024, led by Jack Dorsey, to fuel its global expansion efforts.

Keywords: Bitcoin vouchers, fintech, cryptocurrency access, unbanked, financial inclusion, remittance, digital currency, Bitcoin on-ramp, voucher service, peer-to-peer