Brazil’s Leading Crypto Exchange “Mercado Bitcoin” Raises $200M

“Mercado bitcoin”, Brazil’s leading bitcoin raised $200M from the SoftBank Latin America fund.

The SoftBank Latin America fund has provided $200 million in Series B funding to Mercado Bitcoin, a Latin American digital asset exchange.

The round values 2TM Group, Mercado Bitcoin’s non-operating parent company, at $2.1 billion, ranking it among the top 10 unicorns in Latin America.

Via shutterstock.com

Mercado Bitcoin intends to use the funds to expand its operations and invest in new infrastructure. According to the company’s release, Mercado Bitcoin has attracted 2.8 million customers in the last year.

“Approximately 700,000 new clients joined up to utilise Mercado Bitcoin’s services between January and May 2021,” according to the company’s release. Furthermore, the trade volume on Mercado Bitcoin in 2021 has increased dramatically, “surpassing the total for its first seven years combined.”

The citizens of the footballing nation just can’t resist themselves to flaunt it on social media.

CEO of SoftBank Group International and chief operating officer of SoftBank Group Corporation, Marcelo Claure announced the fundraising campaign on 1st July followed by a tweet.

People congratulated the cryptocurrency exchange “Mercado Bitcoin” for launching it in brazil.

How did the exchange start?

Mercado Bitcoin, launched in 2013, has expanded significantly over the past year to more than 70% of the total Brazilian individual stock investor’s base, with a customer base of 2,8 million in 2021, says 2TM.

According to the company, about 700,000 new clients joined up to use Mercado Bitcoin’s services between January and May 2021. The first 5 months of the year also resulted in increased trading in the cryptographic exchange to $5 billion, which exceeds the sum combined for the first seven years.

The tweet reads

It’s official: the Bitcoin Market is the largest crypto unicorn in Latin America!? We received a contribution of US$ 200 million from SoftBank for the global expansion of our exchange and bets on improvements in the offer of products for our clients. #2TheMoon

English Translation of tweet from Portuguese

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