(Bloomberg)
2TM Participacoes SA, owner of the biggest Brazilian cryptocurrency brokerage, is hunting for acquisitions to enter other Latin American markets.
The plan is for the company, which is backed by SoftBank Group Corp.
Latin America s Mercado Bitcoin exchange raises $200M from SoftBank cointelegraph.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cointelegraph.com Daily Mail and Mail on Sunday newspapers.
Mercado Bitcoin will use the funds to expand its operations, expand supply and invest in infrastructure to meet the growing demand for cryptocurrencies in the region.
TOKYO – Japan’s SoftBank Group Corp has invested $200 million in Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, said Roberto Dagnoni, executive chairman and chief executive officer of 2TM Group, the trading platform’s parent company.
The investment, raised in a Series B funding round, was made through SoftBank Latin America Fund and represents the Japanese multinational company’s largest investment in a Latin American crypto company. As a result of the investment, 2TM said its valuation reached $2.1 billion.
Mercado Bitcoin Becomes Brazil s First Crypto Unicorn With Softbank Round forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.