• Thu. Apr 18th, 2024

Mercado Bitcoin of Brazil Receives Overseas Investment from Softbank

Jul 3, 2021

Softbank, an investment company, focused on investing in the countries of the Latin American region has invested US$ 200 Million in a Brazilian-based crypto-startup. The investment was passed on to Mercado Bitcoin through Softbank’s fund called “Latin American Fund”, which is normally used to support education, innovation, fintech, e-commerce, and crypto adoption.

An investment company hailing from Tokyo Japan namely Softbank has recently invested US$ 200 Million into a crypto trading firm. The firm which has been provided with the funds is a Brazilian company namely Mercado Bitcoin which is owned by 2TM Group.

Usually, the Softbank focuses on investing in the business which belongs to the countries part of the Latin American region. The latest investment is Softbank’s highest ever investment for crypto which the bank had made in any of the Latin American countries.

It was later confirmed by the bank that the investment funds have been taken out of Softbank’s fund namely “Latin American Fund”. This fund has been dedicated by Softbank for leveraging funding support to Latin American countries. Upon receiving of funds, these countries then utilize these funds towards education, innovation, fintech, e-commerce, and crypto businesses.

On the other hand, 2TM Group is one of the most highly valued businesses in Brazil. The group’s present unicorn status is above US$ 2 Billion. The group currently the Latin American region’s eighth highly valued fintech company.

At the same time, Mercado Bitcoin is currently the most emerging crypto business in Brazil. In a very short span of one year, Mercado Bitcoin has successfully been able to house around 3 million new users. Mercado Bitcoin also told that a flood of new customers came in between the period January to May 2021. There were around 7 hundred thousand new users within this period. Similar were the results with regard to the daily crypto trade volume of Mercado Bitcoin. The firm apprised that the volume it transacted in 2021 is equal to what it had transacted in between 2004 to 2020.

Mercado Bitcoin is growing continuously and according to some crypto traders, it is going to be the world’s biggest crypto platform in the future. Softbank’s CEO, Marcelo Claure, stated that the bank finds huge potential for crypto in the Latin American region. He stated that the region’s crypto space has been overlooked and the whole world needs to focus on the region for crypto purposes.

Softbank’s contribution to the Latin American region is exceptional. The investment company has been investing in various businesses within the region. On several occasions funds have been taken out from the Latin American Fund and gave for investment purposes to notable companies of the region. For instance, frequent investments are sent off through the funds to companies such as Uala, Cortex, Konfio, Creditas, Loggi, and Inter.

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