Bitcoin Magazine
Early Riders Backs Aureo with $1.1M for Secure Bitcoin Custody in Latin America
Aureo, formerly known as Swapido, has raised $1.1 million in pre-seed funding from Early Riders to develop a specialized Bitcoin platform targeting high-net-worth individuals (HNWIs), family offices, and companies in Mexico and Latin America.
The funding, announced on October 20, 2025, will support the creation of a white-glove service focused on secure Bitcoin transactions, custody, and advisory for institutional and long-term holders. Aureo positions itself alongside U.S.-based firms like Onramp and River, adapting similar models to regional needs.
Launched as Swapido on October 11, 2024, by CEO Gustavo Flores Echaiz, the company initially operated as a web app facilitating Lightning Network-to-peso conversions. In its first year, it processed over 5 BTC in volume for hundreds of advanced users, serving as Mexico’s simplest off-ramp for spending Bitcoin.
The rebrand to Aureo reflects an expansion into comprehensive Bitcoin services, looking to build trust and offer high security white glove services, tailored for Latin America’s unique challenges in this area. The platform enables large-volume buys and sells with discreet execution, self-custody guidance, multi-institution custody (MIC) advisory, local fiat integration, and inheritance planning.
Aureo has a Bitcoin Service Provider (BSP) license from El Salvador, and “holds full compliance with Mexican regulations” according to the press release shared with Bitcoin Magazine. “Bitcoin is transforming how investors and corporations manage their wealth by offering a neutral and secure store of value,” the company stated in the announcement, highlighting potential for billions in idle capital across the region to fuel the next wave of adoption.
Looking ahead, Aureo plans to roll out a “Buy” feature and partner with Onramp Bitcoin to build a LatAm-specific MIC platform. This collaboration will leverage Onramp’s infrastructure while tailoring it to local regulations and investor profiles.
The executive team draws from established Bitcoin expertise. Echaiz, who leads as CEO, reunites with original co-founders from Veriphi, a Canadian Bitcoin firm that assisted thousands of clients in buying, selling, and custodying Bitcoin. Nathaniel Kitzkte serves as fractional Chief Technology Officer, Tristan Borges Solari as Chief Product Officer, and Maciej Cepnik as Chief Marketing Officer.
Team members bring experience from companies including Bull Bitcoin, Unchained Capital, Wasabi, Bitrefill, Bitcoin Well, and Zaprite. Aureo, based in Mexico, plans to expand its workforce with upcoming job postings.
Aureo invites sign-ups at aureobitcoin.com, with newsletters for updates and an X account at x.com/AureoBitcoin. As Bitcoin adoption grows in LatAm, firms like Aureo may play a key role in bridging traditional finance and digital assets, offering the region more tailored access to Bitcoin, an asset that has historically been a life raft for nations suffering high inflation throughout the global south.
This post Early Riders Backs Aureo with $1.1M for Secure Bitcoin Custody in Latin America first appeared on Bitcoin Magazine and is written by Juan Galt.