Softbank invests $ 200 million in Brazilian crypto trading platform Mercado Bitcoin – finance bitcoin news – .

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Softbank invests $ 200 million in Brazilian crypto trading platform Mercado Bitcoin – finance bitcoin news – .


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

Mercado Bitcoin $ 200 Million Capital Rise: Softbank Funds One of LATM’s Largest Series B Funding Rounds

The Softbank Latin America Fund has invested in 2TM Group, the parent company of Mercado Bitcoin. The announcement highlights that this is one of the largest Series B 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 Latin America’s eighth most valuable fintech company.

Mercado Bitcoin aims to leverage the funding to continue to scale operations and invest in more infrastructure. The company’s announcement highlights that in the past 12 months, Mercado Bitcoin has garnered 2.8 million customers. “Between January and May 2021, around 700,000 new customers signed up to use Mercado Bitcoin’s services,” the company’s announcement said. Additionally, Mercado Bitcoin’s 2021 trading volume also saw massive growth “exceeding its first seven years combined.”

“Mercado Bitcoin has become a world leader in the field of cryptocurrencies. We were impressed with 2TM Group’s understanding of the Brazilian ecosystem, as well as its contribution to the evolving regulatory framework in Brazil, ”said Marcelo Claure, CEO of Softbank Group International and COO of Softbank Group in a statement. . The Softbank executive added:

Cryptocurrencies have incredible potential in Latin America. We believe that winning in Brazil is essential for 2TM Group and we are delighted to be part of this incredible journey.

Softbank Group and the conglomerate’s holding companies have a vested interest in fintech and blockchain

Fintech companies and crypto solutions have gained mainstream attention in Latin America, and Latin America’s first Bitcoin exchange-traded fund (ETF) debuted on the Brazil Stock Exchange last week. Softbank Group and the company’s Latin America Fund have developed holding companies based on these trends. The Softbank Latin America Fund also supports financial technology companies such as Creditas, Cortex, Inter, Loggi, Konfio and Ualá.

Multinational conglomerate Softbank has been in crypto and blockchain technology for some time. In October 2019, Softbank announced that it was working with Tbcasoft and IBM on a multi-operator blockchain technology project. Softbank also worked with Tbcasoft when the companies created a blockchain-based “Identification and Authentication” working group that same year.

One of the Tokyo-based firm’s portfolio companies also operates crypto-asset solutions. Most recently, in mid-April 2021, Softbank-backed global space provider Wework recently revealed that it accepts cryptos and keeps digital assets on its balance sheet.

Mercado Bitcoin’s funding from Softbank follows the company’s Series A cycle in January 2021, which was co-led by Parallax Ventures and G2D / GP Investments. Mercado Bitcoin aims to use the funding to “accelerate the growth of 2TM Group portfolio”. 2TM Group’s portfolio also includes crypto wallet provider Meubank and it hopes to launch a fund called “Bitrust” in the near future.

What do you think of Softbank’s financing of 2TM Group and its subsidiary Mercado Bitcoin with funding of $ 200 million? Let us know what you think of this topic in the comments section below.

Tags in this story

2TM Group, Blockchain, Brazil, Brazilian, Cortex, Creditas, solutions crypto, G2D / GP Investments, Inter, Konfio, Latin America, LATM, Loggi, Marcelo Claure, Mercado Bitcoin, Meubank, Parallax Ventures, Softbank, softbank bitcoin, softbank crypto , Softbank Group, Softbank Group International, Softbank Latin America Fund

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