Softbank invests over 22 billion yen in Mercado Bitcoin, Latin America's largest crypto asset exchange

by MIKI Yoshihito

2TM Group, the parent company of Mercado Bitcoin , Latin America's largest cryptocurrency exchange, has announced that it has raised $ 200 million from Softbank. The funding is said to be the highest ever Series B funding in Latin America.

Mercado Bitcoin, Latin America's Largest Digital Assets Platform, raises $ 200 Million USD from SoftBank | Business Wire
https://www.businesswire.com/news/home/20210701005361/en/Mercado-Bitcoin-Latin-America%E2%80%99s-Largest-Digital-Assets-Platform-raises-200-Million-USD-from- SoftBank

SoftBank invests $ 200 million in Brazilian crypto exchange Mercado Bitcoin
https://www.theblockcrypto.com/linked/110250/softbank-invests-200-million-brazilian-crypto-exchange-mercado-bitcoin

SoftBank leads $ 200 million series B raise into largest Brazilian crypto exchange --Crypto Daily ™
https://cryptodaily.co.uk/2021/07/SoftBank-leads-200-million-series-B-into-largest-brazilian-crypto-exchange

Mercado Bitcoin Lands $ 200M Investment from SoftBank | Crypto Briefing
https://cryptobriefing.com/mercado-bitcoin-lands-200m-investment-softbank/

With $ 200 million in funding from Softbank, Mercado Bitcoin has grown significantly over the past year. In 2021, the number of users exceeded 2.8 million, which is equivalent to 70% of individual investors based in Latin America. It has also been revealed that in the five months from January to May 2021, as many as 700,000 new customers have begun to use Mercado Bitcoin's services. Mercado Bitcoin commented that the funds raised will be used to invest in infrastructure in order to respond to such a rapid increase in demand.

The total transaction amount of Mercado Bitcoin from January to May 2021 reached 5 billion dollars (about 560 billion yen), and this transaction amount is from 2013 to 2020 when Mercado Bitcoin started the service. It is a number that exceeds the total transaction amount for the past 7 years.

Vem pra nova economia digital | Mercado Bitcoin
https://www.mercadobitcoin.com.br/

With this funding, Mercado Bitcoin plans to increase the number of in-house teams to 700 by the end of 2021. In addition to Mercado Bitcoin, the parent company, 2TM Group, owns services such as digital wallet provider MeuBank and Bitrust, a crypto asset management service that is awaiting regulatory approval. With this funding, the corporate value of the parent company 2TM Group has reached 2.1 billion dollars (about 230 billion yen).

'Millions of people around the world are beginning to realize that digital and crypto assets are innovative technologies, efficient and valuable,' said Robert Dagneni, CEO of 2TM Group. These trends are the same in Brazil. With this funding from Softbank, we will be able to afford to continue investing in infrastructure and meet the surge in demand in the blockchain-based financial market. ' Said.

Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group, said about this investment, 'Mercado Bitcoin is at the forefront of the blockchain revolution in Latin America and in the explosive growth of crypto assets in Brazil. It's a decisive player. '