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# Latin America asset tokenization startup Koibanx raises $22 million
- URL: https://www.techloy.com/latin-america-asset-tokenization-startup-koibanx-raises-22-million/
- Published: 2022-08-19T08:05:35.000Z
- Updated: 2022-08-19T10:43:18.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: Blockchain, Koibanx, blockchain in LatAm, crypto in LatAm, Borderless Capital, Kalonia Venture Partners, G2, Innogen Capital

[Koibanx,](https://www.koibanx.com/) a Latin America-focused asset tokenization startup, has raised $22 million in its Series A funding round led by blockchain protocol Algorand Inc., with participation from others. 

- The fund will be used to provide blockchain infrastructure and build payment rails for financial institutions expanding operations in Central America, the company claims.
- Founded in 2015, Koibanx is using [blockchain](https://techloy.com/tag/blockchain) to improve the financial system in Latin America to achieve faster, scalable, and programmable financial products that will enable access for the underserved in the region.
- It aims to launch a beta version of a low-code platform in December to enable developers to create financial products on the blockchain; targeting up to 10,000 developers by the end of 2023\.
- The blockchain-based company currently operates in Mexico, Colombia, El Salvador, Argentina, and Uruguay and plans to launch in Panama, Paraguay, Guatemala, and Honduras in the next 18 months.
- Borderless Capital, Kalonia Venture Partners, G2 and Innogen Capital among others invested in the round.