Softbank Invests Heavily In Bitcoin From Brazilian Crypto Exchange Mercado

  Softbank Invests Heavily In Bitcoin From Brazilian Crypto Exchange Mercado Brazilian Crypto Exchange Mercado Invests $200M In Bitcoin Mercado Bitcoin, Brazil's largest bitcoin (BTC, -4.12%) exchange, surprised everyone by raising $200 million from SoftBank Latin America Fund. Explaining that he collected this investment from the B fund, CEO and chairman of the board, Roberto Dagnoni, stated that the Latin American firm is the largest investment made in the American crypto company in its history. In addition, Dagnoni went on to say that the investment in CoinDesk adds $2,1 billion in value to 2TM Group. 2TM Group becomes the second Latin American crypto king after announcing the $250 million Series C in May at a valuation of $2,2 billion. He added that Dagnoni's goal is to expand by opening branches in Argentina, Chile, Colombia and Mexico.

Brazilian Crypto Exchange Mercado Invests $200M In Bitcoin

It announced that it will achieve growth either organically or through acquisition. The CEO added that he has already started discussions with colleagues about potential acquisitions. “2TM Group, impressed by Brazil's position in the ecosystem and its developments, said that it is at the forefront of the Latin American blockchain revolution and plays a decisive role in the world.” "The cryptocurrency boom in Brazil," said Marcelo Claure, SoftBank Group International CEO and SoftBank Group COO, in a press release. The company said in its press release that from the beginning of the year to May 2021, it had a total customer base of 2,8 million, adding approximately 700,000 new users. Mercado Bitcoin's trading volume also rose to $5 billion, surpassing the total of the first seven years. Mercado Bitcoin plans to expand its work team to 700 people by the end of the year, as well as launch a digital wallet, MeuBank, as well as a digital custodian, Bitrust. Dagnoni said that both projects are awaiting approval from the Brazilian authorities before they can be realized. Brazilian Crypto Exchange Mercado Invests $200M In Bitcoin  

Source: Coindesk

 

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