Softbank Invests $200 Million in Brazilian Crypto Trading Platform Mercado Bitco

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Softbank Invests $200 Million in Brazilian Crypto Trading Platform Mercado Bitcoin

The multinational conglomerate holding company headquartered in Tokyo, Softbank operates a Latin America Fund that invests in startups focused on identification technology, e-commerce, education, fintech and now cryptocurrency solutions. The Softbank Latin America Fund revealed on Thursday that it invested $200 million in the crypto-asset exchange Mercado Bitcoin.

Mercado Bitcoin’s $200M Capital Raise: Softbank Funds One of the largest Series B funding rounds in LATM
The Softbank Latin America Fund has invested in Mercado Bitcoin’s parent company 2TM Group. The announcement highlights that it is one of the largest Series B funding rounds in Latin America and Softbank’s largest crypto investment in the Latin American continent. The investment brings 2TM Group’s unicorn status to $2.1 billion and the eighth-most valuable fintech firm in Latin America.

Mercado Bitcoin aims to leverage the financing to continue scaling operations and invest in more infrastructure. The company’s announcement emphasizes that over the last 12 months, Mercado Bitcoin has gathered 2.8 million clients. “Between January and May 2021, approximately 700,000 new customers signed up to use Mercado Bitcoin’s services,” the company’s announcement detailed. Additionally, Mercado Bitcoin’s trade volume in 2021 has seen massive growth as well “surpassing the total for its first seven years combined.”

“Mercado Bitcoin has become a global leader in the cryptocurrency space. We’ve been impressed by 2TM Group’s understanding of the Brazilian ecosystem, as well as their contribution to the evolving regulatory framework in Brazil,” Marcelo Claure, CEO of Softbank Group International and COO of Softbank Group said in a statement. The Softbank executive further added:

Cryptocurrencies have incredible potential in Latin America. We believe winning in Brazil is critical for 2TM Group and are excited to take part in this incredible journey.



https://news.bitcoin.com/softbank-invests-200-million-in-brazilian-crypto-trading-platform-mercado-bitcoin/