Episode 50: Carlos Mosquera Founder of Mesada.
Today we are speaking with Carlos Mosquera, Founder of Mesada. Bitcoin shot past $18,000 for the first time in three years on Wednesday, and this could be just the beginning of the rally. Mr. Mosquera started investing and mining bitcoin in 2013 and Co-founded Venture Hash, deploying the Largest bitcoin industrial-scale mining operations both in the US and Venezuela. Subsequently, he founded a proprietary trading business generating high 4-digits % gains, notably outperforming bitcoin through an event-driven strategy. In early 2016 he created one of the first digital assets funds with 3 Central America Family Offices. In 2018 started Solidus OTC, the first institutional scale crypto/fiat trading desk with Latin American on/off ramps capabilities. Currently, he is a Managing Director at Solidus Capital, a Digital Assets firm with +2,500 AUM from investors from Iberoamerica.In 2019, Mr. Mosquera founded Mesada, a DeFi, and crypto-rails based remittance company focused on Hispanic migrant communities.
Welcome to the Pandocap Show.
Q: Can you share a bit about your journey with our audience?
A: I am from Venezuela and in 2012, I discovered bitcoin. I set up the largest bitcoin mine in the world. In 2015, the Venezuelan government seized and stole our operations and we left the country for the safety of our family. We continued mining in Washington state then set up a crypto fund called Solidus which was very successful. We realized that there was a need for liquidity services in this area with a focus on remittances so we started Mesada. We leveraged our prior infrastructure and launched our MVP with one client and now we have over 40 employees and this year we will expand to the US. The US expansion will focus on low-cost remittances between the US and Mexico through crypto/rails and we will be the only one doing it.
Q: The startup community that is being created internationally is on the rise. What do you think is driving some of the innovation in Latin America?
A: The reason why Latin America is thriving is that we have infrastructure and opportunity. In the past 20 years, most Latin American countries have approached the free markets and that has allowed the region to thrive and build infrastructure. When you mix that with the size of the population across Mexico, Brazil, Peru, and Columbia, it’s really ripe for disruption across many industries.
Q: What are some of the challenges that you face trying to break into the US markets?
A: Banking services and other providers are still looking at bitcoin in a hostile way. Also, with the size of the market, it will take a significant amount of investment.
Q: What’s next for you for the rest of the year and beyond?
A: In 2021 we will launch in Phoenix, Chicago, and LA. In Q4 we believe we will be one of the major remittances in the US, from California, Texas, Illinois, NY, NJ, and Arizona. Finally moving into more Latin American countries over the coming years.
Thank you for joining us on Pandocap and we look forward to following your success.