2TM Group, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, raised $200 million from SoftBank Latin America Fund in a Series B funding round.<\/p>\n
According to the press release<\/a>, as a result of the latest investment, the valuation of 2TM Group reached $2.1 billion, and the firm became the eighth-largest \u00abunicorn\u00bb<\/span> in Latin America.<\/p>\n Mercado Bitcoin plans to deploy the raised capital to scale the business and develop infrastructure. The exchange expects to grow its team to 700 employees by the end of 2021.<\/p>\n 2TM Group intends to broaden its portfolio through financing, which will include the wallet provider MeuBank and custodian Bitrust, after obtaining regulatory approvals.<\/p>\n \u00abMillions of people around the world recognize that digital assets and cryptocurrencies are simultaneously innovative technologies and effective stores of value. Brazil is no exception to this trend. The Series B round will allow us to continue investing in our infrastructure, which will help scale operations and meet growing demand in a blockchain-based financial market,\u00bb \u2014 said Roberto Dagnoni, CEO of 2TM Group.<\/p>\n<\/blockquote>\n The exchange counts 2.8 million users, of whom about 700,000 joined since the start of 2021. The platform calls itself the largest in Latin America.<\/p>\n Earlier in January, Mercado Bitcoin raised $37.4 million<\/a> to expand its presence in regional markets.<\/p>\n\n