HomeCoinsEthereum (ETH)Brazil’s 2TM raises $50.3 million in second Series B closing

Brazil’s 2TM raises $50.3 million in second Series B closing

- Advertisement -


Brazil’s 2TM Group, the parent company of exchange Mercado Bitcoin, has raised $50.3 million in a second closing for its Series B funding round as it eyes Latin America expansion.

The unicorn completed the first closing of the round in July, raising $200 million from the SoftBank Latin America Fund. 

The second closing acts as an extension where more investors can join the round. New investors include U.S.-based equity fund 10T and venture capital fund Tribe Capital, plus Brazil-based firms Traders Club, Pipo Capital and Endeavor.

According to comments from 2TM CEO Roberto Dagnoni in a press release, the crypto-focused company has more than 3.2 million customers and plans to expand into other Latin American countries like Argentina, Chile, Colombia and Mexico.

“LATAM has a diversity that requires local understanding and expertise,” a 2TM spokesperson told The Block in an email. “For example, in Brazil, the main driver is as an alternative investment class. In Mexico, remittances are a significant part of the overall volume drivers. In Argentina, there is a much more intensive adoption of stablecoins to protect from currency fluctuation.”

According to 2TM, Mercado Bitcoin is Latin America’s largest crypto exchange. Dagnoni noted that the Mercado Bitcoin exchange saw trading volumes of 40 billion reais (about $7.1 billion today) between January and October, which is double the amount from when the company launched in 2013.

Despite the name, Mercado Bitcoin supports several other cryptocurrencies like Cardano, Ethereum, Dogecoin, Litecoin and Solana, as well as other assets like utility tokens.

In addition to its crypto exchange, 2TM is investing in other blockchain projects like stock lending marketplace SL Tools, credit receivable tokens with bank Itaú Unibanco, renewable energy tokens and NFT startups.



Source link

- Advertisement -
Mr Bitcointehttps://www.bitcointe.com/
“Fact You Need To Know About Cryptocurrency - The first Bitcoin purchase was for pizza.” ― Mohsin Jameel
462FansLike
76FollowersFollow
4,567FollowersFollow
5,261FollowersFollow
1,562FollowersFollow
2,230SubscribersSubscribe

Most Popular

bitcoin
Bitcoin (BTC) $ 43,309.00
ethereum
Ethereum (ETH) $ 3,347.34
tether
Tether (USDT) $ 0.999643
bitcoin-cash
Bitcoin Cash (BCH) $ 390.01
litecoin
Litecoin (LTC) $ 148.01
eos
EOS (EOS) $ 2.92
okb
OKB (OKB) $ 26.28
tezos
Tezos (XTZ) $ 4.32
leo-token
LEO Token (LEO) $ 3.77
cardano
Cardano (ADA) $ 1.28
monero
Monero (XMR) $ 218.46
stellar
Stellar (XLM) $ 0.261812
chainlink
Chainlink (LINK) $ 25.53
huobi-token
Huobi Token (HT) $ 10.00
tron
TRON (TRX) $ 0.068743
usd-coin
USD Coin (USDC) $ 0.999588
dash
Dash (DASH) $ 140.97
neo
NEO (NEO) $ 25.39
iota
IOTA (MIOTA) $ 1.14
nem
NEM (XEM) $ 0.120489
zcash
Zcash (ZEC) $ 144.86
maker
Maker (MKR) $ 2,232.57
paxos-standard
Pax Dollar (USDP) $ 1.00
ethereum-classic
Ethereum Classic (ETC) $ 33.09
vechain
VeChain (VET) $ 0.079375
true-usd
TrueUSD (TUSD) $ 0.999395
ftx-token
FTX Token (FTT) $ 46.69
kucoin-shares
KuCoin Token (KCS) $ 20.43
waves
Waves (WAVES) $ 14.64