In the heart of Mexico City, where the scent of churros mingles with the hum of a financial revolution, Gustavo Flores is quietly dismantling the archaic scaffolding of traditional finance—one satoshi at a time.
A Montreal-born bitcoin evangelist turned Latin American pioneer, Flores didn’t just cross borders; he erased them. His weapon of choice? A suite of tools forged in the fires of self-sovereignty, collaboration, and an unshakable belief that bitcoin isn’t just money—it’s liberation.
From launching Veriphi in Canada to co-founding La Casa de Satoshi, a buzzing bitcoin hub where bankers and abuelitas alike debate UTXOs over café de olla, Flores has redefined what it means to “live on bitcoin.” 
This is the story of how a bitcoin nomad from the Great White North is sparking a financial wildfire in Latin America… and why the flames are just getting started.
Who is Gustavo Flores?
- Share your journey into the bitcoin ecosystem. How did your early experiences in Montreal shape your path?
I started working in bitcoin in 2019 when I launched my first startup, Veriphi. This experience was foundational—it allowed me to deeply understand bitcoin, and bitcoin users. Running a bitcoin startup also made me a problem-solver, which ultimately led me to move to Mexico and, eventually, launch Swapido.
Swapido is a platform that allows users to sell bitcoin and send Mexican pesos (MXN) to bank accounts in Mexico instantly.
Building on Bitcoin
- What gap in the bitcoin space motivated you to launch Swapido BTC? How does it reflect lessons from your time at Veriphi, Bull Bitcoin, and Wasabi?
The main gap that motivated us to launch Swapido was the lack of an easy way for both foreigners and Mexicans to live on the bitcoin standard in Mexico. There were very few bitcoin-only services, no strong non-custodial options, and little focus on bitcoin as a medium of exchange.
This reflects lessons from my time at Veriphi, Bull Bitcoin, and Wasabi. Those products were all non-custodial, prioritizing self-sovereignty. Wasabi, in particular, was a self-custody wallet, and both Bull Bitcoin and Wasabi emphasized bitcoin as a medium of exchange.
Swapido builds on these principles by making it seamless to transact with bitcoin while maintaining full control over funds.
- What principles guide your work across these diverse bitcoin initiatives?
Bitcoin-Only – Bitcoin is the best form of money ever invented. It’s not worth wasting time exploring other digital currencies. I did that 10 years ago, and I’m not going to do it again.
Transparency – I build in the open. When I discover something valuable that isn’t widely known or available, I share it.
Collaboration – I work with others and invite people to participate, even if they could be considered competitors. For example, with La Casa de Satoshi, we welcome different players in the space because collaboration strengthens bitcoin adoption.
- How do your roles as CEO of Swapido BTC, Bitcoin Optech contributor, and co-organizer of La Casa de Satoshi intersect?
These roles all complement each other:
As a Bitcoin Optech contributor, I stay up to date on technical developments in bitcoin.
At La Casa de Satoshi, I co-organize meetups where I share what I’ve learned and discuss bitcoin’s evolution with the community.
As CEO of Swapido, I apply this knowledge to build solutions for real-world bitcoin adoption in Mexico, which I’m able to share with the La Casa de Satoshi community.
Each role feeds into the other, keeping me engaged with both technical advancements and grassroots adoption.
- What makes Swapido BTC unique in the Bitcoin services landscape? How does it address user needs differently?
Swapido is unique because:
- Non-Custodial – Users retain full control of their bitcoin, eliminating security risks that come with custodial platforms.
- Focused on Living on Bitcoin – Unlike exchanges that treat bitcoin as just another asset, Swapido is designed to help people actually live on the Bitcoin standard.
- Fastest & Easiest Way to Sell Bitcoin in Mexico – The service is streamlined for quick transactions, making it practical for everyday use.
By prioritizing these aspects, Swapido offers a service that’s fundamentally different from both custodial exchanges and complicated peer-to-peer solutions.
- What role does this initiative play in fostering Bitcoin adoption, and how does it collaborate with global communities?
At La Casa de Satoshi, we focus heavily on education, catering to both beginners and experienced bitcoiners. We host two meetups every month—one for newcomers and another, which I co-host, that dives deep into technical discussions.
In terms of global collaboration, we work closely with other Mexican and Latin American bitcoin communities. We also host and welcome bitcoiners from around the world, including from the U.S. and Costa Rica, giving them a space to work, connect, and participate in events in Mexico City.
- Are you focused on scaling regionally (e.g., Canada/LatAm) or globally?
We are focused on scaling regionally across Latin America, specifically targeting Spanish-speaking markets. Our goal is to make Swapido available throughout the region, not just for spending bitcoin but also for stacking sats—something our users are increasingly requesting. Our strategy is deeply rooted in the needs of the Latin American bitcoin community.
- How has the local ecosystem evolved, and what part have you played in its growth?
When I moved to Mexico, there was little to no bitcoin-only ecosystem. Through La Casa de Satoshi and Swapido, we have actively contributed to its growth. Timing played a big role—we arrived at a moment when bitcoin-only was becoming a global narrative, not just in the U.S. and Canada, but also in Mexico.
As bitcoin-only communities started forming here, La Casa de Satoshi and Swapido positioned themselves at the forefront, helping shape this movement.
- Share a success story of how Swapido BTC has empowered individuals or businesses.
There are many success stories among Swapido users, but here are two that stand out as transformational:
Cross-Border Payments & Remittances – Swapido helps Mexicans living abroad and expats in Mexico send money instantly, without the delays and fees of traditional remittance services.
One of our users, a Canadian, relies on Swapido to send money to his girlfriend in Mexico when he’s back in Canada. She can be at the grocery store with her cart full, and in seconds, he sends her money that she can use immediately. This level of speed and convenience is game-changing for cross-border payments.
Banking Independence – Swapido allows users to abandon their reliance on bank accounts for daily spending. Many people, including myself, use Swapido to live entirely on bitcoin, proving that it’s possible to navigate daily expenses without a bank.
We’ve seen users fully transition to bitcoin for their financial needs, demonstrating that a bitcoin standard is not just a vision—it’s already a reality for many.
Challenges and Collaborations
- What challenges have you faced in Canada’s regulatory environment, and how do you advocate for Bitcoin-friendly policies?
During my time running Veriphi and working at Bull Bitcoin, the biggest challenge in Canada was the banking system. Getting a bank account as a bitcoin business was extremely difficult, and that remains true today.I am no longer part of the Canadian ecosystem, as I have moved to Mexico and Swapido operates here.
In Mexico, through La Casa de Satoshi, we focus on education efforts, inviting government representatives to events to learn about bitcoin in an open, transparent setting. By engaging with policymakers and the public, we hope to contribute to a more bitcoin-friendly environment in Mexico.
- How does collaboration drive your projects? Are Swapido BTC’s tools open-source?
We collaborate with many other bitcoin companies. For example, we’ve partnered with Lightning wallets like Wallet of Satoshi and Sati, for cross-marketing campaigns and meetup sponsorship since users need a Lightning wallet to use Swapito.
Our tools are not open-source because Swapido is a proprietary bitcoin exchange platform. However, if we ever develop tools that are native to bitcoin, we would open-source them.
What’s Next?
- What advice do you give users and businesses to secure their bitcoin in a high-risk environment?
Self-custody is a must – Always hold your bitcoin yourself; never leave it on an exchange.
Keep it simple – Don’t over complicate your setup. Many people make things too complex and end up making mistakes. Use methods you fully understand.
Improve security over time – As you learn more, you can adopt multi-signature wallets or other advanced security methods, but start simple.
Consider geo-arbitrage – Having residencies in multiple countries gives you flexibility if you ever need to change jurisdictions.
- What would you tell someone starting a bitcoin-focused venture today?
Talk to your users – Even if your product serves a niche, understanding your users’ needs is key.
Believe in the long-term vision – When I first launched Swapido, it had a different structure with a white-glove self-custody service. I stopped too soon, but now I see that such a model would have been valuable today. Bitcoin adoption takes time—stick with it.
Ignore short-term fads – Focus on building long-term, bitcoin-only solutions rather than chasing trends.
- How could initiatives like La Casa de Satoshi reshape financial inclusion in Latin America and beyond?
La Casa de Satoshi is an open space for all individuals, regardless of their financial background. We welcome:
Middle-class Mexicans who want to learn about bitcoin
Businesses that want to integrate bitcoin payments
Wealthy individuals looking for deeper insights into bitcoin’s potential
Many people still believe bitcoin is a Ponzi scheme or a scam. Our mission is to educate them, helping them understand how bitcoin can provide financial independence.
- How can people engage with Swapido BTC, La Casa de Satoshi, or your other projects?
Swapido Promotion – Users who record a video of themselves using Swapido and post it on social media get their purchase reimbursed (up to ~$40 USD in sats).
Swapido Affiliate Program – Create a referral link, and earn 50% of the commission on every trade made through your link.
La Casa de Satoshi – If you’re in Mexico City, visit! You can work here, attend events, network, and launch a bitcoin career.
Bitcoin Optech Newsletter – The best technical newsletter for deep bitcoin knowledge.
- What milestones are you targeting in the next 12–18 months?
Launch a bitcoin On-Ramp in Mexico – Making it easier to buy bitcoin in a bitcoin-only way.
Expand Swapido across Latin America – Scaling our services to more countries in the region.
Make La Casa de Satoshi a leading bitcoin community hub in Latin America.
Develop new bitcoin-native solutions that will last for decades in the coming hyper-bitcoinization phase.
- How can the global Bitcoin community support your mission?
The global Bitcoin community can support our work in two key ways:
Engaging with us on social media – Sharing our work, discussing Swapido and La Casa de Satoshi, and helping spread the word about bitcoin adoption in Latin America.
Sharing insights on real-world use cases – Many bitcoin use cases in Latin America are not well-known globally. If you’re aware of specific financial pain points or inefficiencies in the region, let us know. These insights can help shape the bitcoin products we develop to better serve real needs.
