Mercado Libre Invests in Paxos and Buys Stake in Mercado Bitcoin’s Parent, 2TM Group

Mercado Libre announces Paxos investments and stake in 2TM Group, parent of Mercado Bitcoin.

Mercado Libre, the operator of the largest online marketplace in Latin America, announced strategic investments in Paxos and the purchase of shares in 2TM Group, the parent company of the Mercado Bitcoin bitcoin exchange.

Financial details were not disclosed.

The investments reinforced Mercado Libre’s commitment to the development and use of crypto assets and blockchain technologies in the region, the press release said.

In December, the company integrated Paxos infrastructure into the developed digital wallet Mercado Pago. Its users gained the ability to buy/sell Bitcoin, Ethereum and USDP.

In May 2021, Mercado Libre announced the acquisition of Bitcoin in Q1 for $7.8 million. In December, the group’s real estate operations platform added the ability to conduct deals with digital gold.

In December, 2TM Group closed an expanded Series B financing round of $50.3 million.

In July, the management company raised $200 million from SoftBank Latin America Fund, becoming the eighth-largest unicorn in Latin America.

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