Founded January 23, 2014, by Ben Peters and Pablo Gonzalez, Bitso was Mexico's first Bitcoin exchange, also operating a Ripple gateway, allowing international flows of pesos, US dollars, and Bitcoin with the objective of facilitating US-to-Mexico remittances. At the time, the exchange supported 50 percent of the trading volume for the Mexican Peso/Bitcoin trading pair, its chief competitor at the time being LocalBitcoins, which handled a similar volume.