How much did 2TM raise for Mercado Bitcoin?

Brazilian company 2TM has raised $200 million for its subsidiary, Mercado Bitcoin. The raise was led by tech investment giant SoftBank at a $2.1 billion valuation. Mercado Bitcoin's funding is the largest ever Series B round in Brazil.

What is Mercado Bitcoin?

Mercado Bitcoin's funding is the largest ever Series B round in Brazil. One of Latin America's largest cryptocurrency exchanges has raised $200 million in a round led by Japanese investing giant SoftBank. Brazil-based Mercado Bitcoin raised the funds at a $2.1 billion valuation in what was the country's largest Series B to date.

Why did SoftBank invest $200 million in Mercado Bitcoin?

Take a look at the pitch deck that convinced SoftBank to lead a $200 million round into Brazil's largest exchange. Mercado intends to use the funds to grow out its headcount and invest in its digital offerings. Brazilian company 2TM has raised $200 million for its subsidiary, Mercado Bitcoin.

Who will oversee the bitcoin market in Brazil?

“The bill tasks the executive branch with selecting government bodies to oversee the market. The expectation is that the Central Bank of Brazil (BCB) will be in charge when bitcoin is used as payment, while the country’s securities and exchange commission (CVM) will be the watchdog when it is used as an investment asset.