The seed round places a $20 million valuation on IBEX as they seek to expand in the Americas and Europe.

“Many people still have the wrong idea about Bitcoin,” said founder and CEO of IBEX Mercado, Jose Luis Lemus, per the release. “It isn’t just a store of value, or even a faster and cheaper way of transacting: it’s the platform for the most audacious, transformative shift of financial power in history.”

IBEX was instrumental in the rollout of bitcoin as legal tender in El Salvador.