Paradigm has spearheaded a $9 million Series A funding round for El Dorado, a cross-border payment app focused on the Latin American market. The round also saw participation from Coinbase Ventures and Verda Ventures. El Dorado aims to enhance its infrastructure in a market nearing $1 trillion, largely driven by remittances and B2B trade payments from the US to Latin America. El Dorado is targeting "internal corridors" like Brazil-Bolivia, often overlooked by traditional financial players. The app has over 100,000 active users and has processed more than 5 million transactions. It recently launched a cross-border payment service for businesses, integrating stablecoin and fiat currency channels, and has already facilitated transactions for over 100 companies, mainly for importing electric vehicles from China. This service is built on Tempo, a Layer 1 blockchain developed by Paradigm and Stripe.