The largest crypto exchange in Brazil, Mercado Bitcoin, has received an investment worth $200 million from Softbank Group Corp, a Japanese multinational conglomerate holding company. 

According to the report, the Japanese conglomerate company made this investment through its Latin America Fund. The executive chairman and CEO of 2TM, the parent company of Mercado Bitcoin, Robert Dagnoni, pointed out that the move represents the largest Series B funding round in Latin America and its biggest investment in a Latin American crypto firm. This investment brings 2TM’s total value to $2.1 billion making the crypto firm the second largest in Latin America. 

The cryptocurrency exchange intends to use the capital to expand its operations and services outside the Latin market, and invest in necessary infrastructure that will help it meet the rising demand for crypto-related services in the country.

“The platform is quite integrated. So custody is very important in releasing the power of the institutional market. We’re also looking at regional expansions in LatAm and expansions via M&A [mergers and acquisitions] as well.”

About Mercado Bitcoin 

Mercado Bitcoin is a cryptocurrency exchange platform that allows people to trade cryptocurrency, digital assets, and other tokens. Gustavo Chamati and Mauricio Chamati established the exchange in 2013. Its headquarters is in Brazil. 

The exchange provides access to alternative investments through tokenized assets such as high-yield public and private debt, FuteCoin, and carbon credits.

This recent funding is an added glory to the impressive results the exchange has seen this year. Between January to May 2021, the exchange had an influx of 700,000 new users. This took the platform’s user base to 2.8 million. The exchange’s trading volume has also increased to an ATH $5 million. This is higher than their total value for the last seven years combined.