SAO PAULO – (BUSINESS WIRE) – 2TM Group, the parent company of Mercado Bitcoin, the leading cryptocurrency exchange in Latin America, announced today that Mercado Bitcoin has raised $ 200 million from the SoftBank Latin America Fund. The fundraiser marks the largest Series B round in Latin American history and SoftBank’s largest investment in a Latin American crypto company. The investment values 2TM Group at $ 2.1 billion, making it the eighth most valuable unicorn in Latin America
Mercado Bitcoin will use the funds to expand its size, expand its supply and invest in infrastructure to meet the growing demand for crypto in the region. The company grew strongly in the past year and reached a customer base of 2.8 million in 2021 – more than 70% of the total individual investor base on the Brazilian stock exchange.4 Between January and May 2021, around 700,000 new customers signed up for the services of Mercado Bitcoin use. In the first five months of the year, the trading volume of Mercado Bitcoin also rose to $ 5 billion, beating the total for the first seven years combined.
The new round of funding will also allow Mercado Bitcoin to grow its team to 700 by the end of 2021 and accelerate the growth of the 2TM Group’s portfolio, which includes digital wallet provider MeuBank, subject to regulatory approvals. In 2021, 2TM Group will also launch Bitrust, the first digital custodian in Latin America, subject to regulatory approval.
“Millions of people around the world are realizing that digital assets and cryptocurrencies are both innovative technologies and efficient stores of value – Brazil is no exception to this trend,” said Roberto Dagnoni, Executive Chairman and CEO of 2TM Group, will enable us to continue investing in our infrastructure to grow and meet the increasing demand for the blockchain-based financial market, I am delighted that the SoftBank Latin America Fund is helping us achieve our vision thanks to the vision unparalleled combination of financial expertise, deeper Industry experience and extensive regional presence. ”
“Mercado Bitcoin and its sister companies have demonstrated both innovation and leadership in this area. Because we have developed a scalable market infrastructure, we are the most trustworthy crypto brand in Brazil. This unique positioning has allowed us to capitalize on the growing interest in cryptocurrencies in both Brazil and Latin America in general, which has significantly expanded our market share over the past year and paved the way for further growth, “said Gustavo Chamati, Mercado Co-Founder and board member of Bitcoin.
“Thanks to the vision of Roberto and Gustavo, Mercado Bitcoin has become one of the world’s leading companies in the field of cryptocurrencies. We were impressed with the 2TM Group’s understanding of the Brazilian ecosystem, as well as their contribution to the evolving regulatory framework in Brazil, which have positioned them all at the forefront of the Latin American blockchain revolution and a defining actor in the cryptocurrency explosion in Brazil, “said Marcelo Claure , CEO of SoftBank Group International and COO of SoftBank Group. “Cryptocurrencies have incredible potential in Latin America. We believe that the win in Brazil is of vital importance for the 2TM Group and we are excited to be part of this incredible journey. ”
With a track record of innovation and disruption in Latin America, 2TM Group became the first company in the world to tokenize public debt in 2019. And in 2020, the company issued Futecoin, the world’s first digital asset based on FIFA’s solidarity mechanism, and has since tokenized or distributed private debt, carbon credits, and a variety of utility and DeFi tokens as well. 2TM Group is also working closely with regulators to create a consistent framework for alternative digital investments in Brazil, in line with their vision of convergence of traditional and blockchain-based financial markets.
The funding round comes just five months after Mercado Bitcoin’s Series A round in January 2021, jointly led by G2D / GP Investments and Parallax Ventures, with the participation of HS Investimentos, Gear Ventures, Évora and Genial. JPMorgan and DealMaker advised 2TM on the transaction.
2TM Group is a Brazilian holding company that manages a range of digital asset services and solutions. Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, is the crown jewel in its portfolio. In the first five months of 2021, the exchange processed transactions totaling nearly $ 5 billion. Affiliates include Meubank, a multi-asset wallet and account service currently awaiting a license from the Central Bank of Brazil, Bitrust, a qualified digital custodian currently awaiting regulatory approval, Clearbook, a crowdfunding platform for stocks, MBDA, an asset tokenizer, Mezapro das, institutional investor services, and the Blockchain Academy, the group’s education arm. Further information can be found at: https://www.2tmgroup.com/
1 Distrito Fintech (https://distrito.me/). (Brazilian equivalent to CB Insights).
2 2TM group