Coinbase Is Preparing To Acquire 2TM

Cryptocurrency exchange Coinbase is preparing to acquire 2TM, the owner of Brazil's largest cryptocurrency exchange Mercado Bitcoin.

According to the news of the Estadao newspaper, the US cryptocurrency exchange Coinbase is getting ready to buy 2TM Group, the owner of Brazil's largest cryptocurrency exchange Mercado Bitcoin. According to the information obtained, negotiations between the two companies have been ongoing since last year and an agreement is expected to be concluded in April. The company recently stated that Mercado Bitcoin reached 3.2 million customers in 2021, of which 1.1 million were added last year. In addition, the trading volume of Mercado exchange increased to 7.1 billion dollars in 2021. 2TM CEO Roberto Dagnoni said the company plans to expand in Latin America with acquisitions in Argentina, Chile, Colombia and Mexico. In addition, the company announced in January that it had acquired a controlling stake in Portugal's first regulated crypto exchange, CriptoLoja. Finally, leading crypto-asset trading platforms such as crypto exchange Binance and Coinbase have turned their eyes to Brazil due to increased adoption.