Foxbit is a prominent Series A-stage cryptocurrency exchange platform headquartered in Osasco, Brazil. Founded in 2014 by Luis Augusto Ramos Schiavon and João Canhada, the company has emerged as a key player in Latin America’s rapidly expanding digital asset ecosystem. With a strong focus on innovation and regulatory compliance, Foxbit offers users a comprehensive suite of services for trading cryptocurrencies, DeFi tokens, NFTs, and metaverse-related digital assets.
Operating across both B2B and B2B2C markets, Foxbit provides institutional and retail clients with secure, scalable, and user-friendly solutions. Its platform supports seamless buying and selling of major digital currencies like Bitcoin while integrating next-generation blockchain technologies to meet evolving market demands.
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Funding and Investment Overview
Foxbit has raised a total of $20 million in funding through a single Series A round completed on February 22, 2022. This significant capital infusion highlights strong investor confidence in the company’s growth trajectory and regional market potential. The round was led by OKX, one of the world’s top cryptocurrency exchanges, underscoring strategic alignment within the global crypto ecosystem.
The investment has been instrumental in scaling Foxbit’s technology infrastructure, enhancing security protocols, and expanding its product offerings. With a post-money valuation estimated at approximately $9.7 million and a revenue multiple of over 4.1 million, Foxbit demonstrates solid financial fundamentals for sustained growth in competitive markets.
As of now, Foxbit has not made any direct investments in other startups but did complete the acquisition of Bitinvest, another Brazilian crypto platform. This strategic move expanded Foxbit’s customer base and consolidated its position in the domestic market.
Market Position and Competitive Landscape
The global cryptocurrency exchange industry is highly competitive, with over 1,687 active platforms operating worldwide. Foxbit ranks 20th among these competitors based on market presence, funding status, and technological maturity.
Among its top rivals are well-established names such as Gemini, FTX, and Blockchain.com—each recognized for their robust trading systems and international reach. Despite this competition, Foxbit distinguishes itself by focusing on localized services tailored to Brazilian users while maintaining global standards in security and compliance.
Other notable competitors include:
- CoinDCX (India) – A Series D-funded platform with $247 million raised.
- PDAX (Philippines) – A growing exchange backed by Tiger Global Management.
- Bitstamp (UK) – An early entrant in the European market, now acquired.
- Bit2Me (Spain) – A regulated exchange expanding across Ibero-America.
While many of these platforms operate globally, Foxbit leverages its deep understanding of local regulations, banking relationships, and consumer behavior to serve the unique needs of Latin American markets.
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Core Services and Technological Offerings
Foxbit’s platform is designed to support a wide array of digital asset activities:
- Cryptocurrency Trading: Users can trade major coins like Bitcoin (BTC), Ethereum (ETH), and stablecoins with low fees and high liquidity.
- DeFi Integration: Access to decentralized finance protocols allows users to participate in yield farming, staking, and liquidity pools.
- NFT Marketplace: The platform enables creators and collectors to mint, buy, and sell non-fungible tokens linked to art, gaming, and virtual real estate.
- Metaverse Support: As virtual worlds gain traction, Foxbit facilitates transactions involving metaverse-based assets and gaming currencies.
Additionally, Foxbit caters to enterprise clients through B2B solutions that include white-label exchange setups, API integrations, and custodial services—enabling banks, fintechs, and brokers to offer crypto services under their own brand.
This dual-market approach strengthens Foxbit’s scalability and revenue diversification in an increasingly institutionalized crypto landscape.
Strategic Growth and Regional Impact
Brazil stands out as one of the most dynamic crypto adoption markets in Latin America. According to recent data, more than 20 million Brazilians own some form of cryptocurrency—a figure that continues to grow despite economic volatility. Foxbit plays a crucial role in this trend by providing regulated access points, educational resources, and localized customer support.
Regulatory clarity from Brazil’s central bank and securities commission has also created a favorable environment for compliant exchanges. Foxbit actively engages with regulators to ensure adherence to anti-money laundering (AML) and know-your-customer (KYC) requirements—building trust among users and institutional partners alike.
With strong backing from OKX and a clear vision for regional dominance, Foxbit is well-positioned to expand beyond Brazil into neighboring countries where demand for digital financial services is rising rapidly.
Frequently Asked Questions (FAQ)
Q: What is Foxbit?
A: Foxbit is a Brazilian cryptocurrency exchange platform founded in 2014. It allows users to buy, sell, and manage digital assets including Bitcoin, DeFi tokens, NFTs, and metaverse-related currencies.
Q: Who invested in Foxbit?
A: Foxbit raised $20 million in a Series A round led by OKX on February 22, 2022. Other investors include GSV Labs and one undisclosed participant.
Q: Is Foxbit available outside Brazil?
A: While primarily focused on the Brazilian market, Foxbit’s B2B solutions enable partner institutions to deploy crypto services regionally. Expansion plans may include broader Latin American coverage in the future.
Q: Has Foxbit acquired any companies?
A: Yes, Foxbit acquired Bitinvest, another Brazilian crypto platform, to strengthen its market position and user base.
Q: Does Foxbit support NFTs and DeFi?
A: Yes, the platform supports NFT trading and integrates with various DeFi protocols for staking, liquidity provision, and yield generation.
Q: How does Foxbit compare to global exchanges?
A: Unlike global giants that target international audiences, Foxbit emphasizes localized compliance, language support, and banking integration tailored to Brazilian users—giving it a competitive edge in its home market.
Looking Ahead: The Future of Foxbit
As digital asset adoption accelerates across emerging markets, Foxbit is poised for continued growth. By combining regulatory compliance with innovative product development, the company aims to become the go-to platform for both retail investors and financial institutions in Latin America.
Strategic partnerships—like the one with OKX—open doors for technological collaboration, liquidity sharing, and cross-border expansion opportunities. Furthermore, ongoing enhancements in security, mobile experience, and institutional-grade tools will help Foxbit retain its leadership position amid intensifying competition.
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With a clear mission to democratize access to digital finance in underserved regions, Foxbit exemplifies how regional players can thrive alongside global giants by focusing on local relevance and long-term sustainability.
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