SoftBank invests USD 200 mln in Mercado Bitcoin

Thursday 1 July 2021 13:58 CET | News

Latin America-based cryptocurrency exchange Mercado Bitcoin has raised USD 200 million from the SoftBank Latin America Fund

The investment values 2TM Group (Mercado Bitcoin’s parent company, at USD 2.1 billion USD. Mercado Bitcoin will use the funds to increase its scale, expand its offerings, and invest in infrastructure to meet the demand for crypto in the region. The company’s client base reached 2.8 million in 2021 –more than 70% of the entire individual investors base on Brazil’s stock exchange. During the first five months of the year, Mercado Bitcoin also saw its trade volume increase to USD 5 billion USD.

The new funding round will also enable Mercado Bitcoin to grow its team to 700 by the end of 2021, as well as accelerate growth across 2TM Group’s portfolio, which will also include digital wallet provider MeuBank, subject to regulatory approvals. In 2021, 2TM Group will also launch Bitrust, the first digital custodian in Latin America, subject to regulatory approval. 

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Keywords: investment, cryptocurrency
Categories: DeFi & Crypto & Web3
Countries: Latin America
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DeFi & Crypto & Web3

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