Tokyo-based multinational bank SoftBank has invested $200 M in Brazil's primary crypto exchange Mercado Bitcoin.
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The capital was attracted in terms of a Series B round. Thus, with the funding of digital asset 2TM Group, which owns the platform, its valuation reached around $2.1 B. 2TM aims to use the funds to expand its team, boost the advancement of its digital wallet MeuBank and bring out custodian Bitrust.Roberto Dagnoni, CEO of 2TM Group revealed that the firm aims to expand in Latin America and is considering opening branches in Argentina, Chile, Colombia, and Mexico.
Mercado BTC was established in 2013. It has made notable progress with the customer base becoming $2.8 mln. in 2021. The exchange's trading volume went up to $5 B, which is higher than the overall volume of the previous 7 years of running. The exchange supports BTC, ETH, XRP, BCH, LTC, and USDC.The crypto market seems to be recovering after the recent major crash. Over the last day, the global crypto market cap has gone up by around 8% and now stands at $1.4 T.