Cryptocurrency change Mercado Bitcoin has raised US$200 million from Japanese enterprise conglomerate Softbank, turning into the primary crypto unicorn in Brazil.
A subsidiary of 2TM Group, Mercado processed cryptocurrencies price as much as US$5 billion within the first 5 months of this 12 months alone, as its prospects’ quantity soared by 700,000 in the course of the interval.
The proceeds of the deal, says Mercado, will likely be used to scale up operations and develop choices by digging deeper into blockchain technology. It’s also planning to rent 200 new workers by the top of this 12 months.
“The sequence B spherical will afford us to proceed investing in our infrastructure, enabling us to scale up and meet the hovering demand for the blockchain-based monetary market,” mentioned Roberto Dagnoni, Government Chairman & CEO of 2TM Group.
Partly because of the unstable Foreign exchange market and the COVID-19 pandemic, Latin American international locations are more and more embracing cryptocurrencies. Consequently, crypto exchanges are rising in quantity all through the area. El Salvador lately went a step additional, adopting bitcoin as a legal tender.
Mercado’s dad or mum firm 2TM Group appears to have higher experience in digital currencies. It was the primary on the planet to tokenize public debt belongings. Final 12 months, it issued its personal cryptocurrency known as Futecoin. Now, the corporate is ready to launch Bitrust, the primary digital custodian in Latin America.
“Cryptocurrencies have incredible potential in Latin America. We consider successful in Brazil is crucial for 2TM Group,” mentioned Marcelo Claure, COO of SoftBank Group.