SoftBank invests $200 million in Brazil first crypto exchange Mercado Bitcoin
SoftBank is now making an investment of $200 million in Brazil's first-ever crypto exchange Mercado Bitcoin in a Series B round. SoftBank Latin America Fund2TM Group made the announcement on this. On June 30, the value of the investment of 2TM Group was $2.1 billion. It was clearly made because of the increasing most inept in getting the bitcoin along with other cryptocurrencies to Latin America
More about the Investment:
2TM Group is SoftBank’s largest capital part in the Latin America crypto company. While focusing on SoftBank’s investment tails, it was noted that $250 million round was raised by the Mexican cryptocurrency exchange Bitso in the month of May.
“This series B round will afford us to continue investing in our infrastructure, enabling us to scale up and meet the soaring demand for the blockchain-based financial market,“ says Roberto Dagnoni, executive chairman and CEO of 2TM Group. “We want to be the main solution provider for corporate players.”
This São Paulo-based exchange is now focusing on increasing listed assets number. This would eventually grow the 500-member team to 700 by end of the year. Further, the company is also planning to get intervened in the regional expansion while focusing on Mexico, Argentina, Chile, and Colombia and growth acceleration across 2TM Group’s portfolio.
About 2TM group:
It is the second Latin American crypto unicorn that was made post-Bitso made an announcement of a $250 million Series C in May. It has an overall 2.2 billion valuations. However, the company has already contemplated the acquisition in Argentina, Chile, Colombia, and Mexico and looking forward to grow more.
CBW - External Analyst