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SoftBank joins Mercado Bitcoin and invests $2M

Bitcoin price

TL;DR Breakdown

• The Mercado Bitcoin capitalized $5 million in 2021.
• The Latin American platform exceeds 2.8 million clients.

Softbank Group Corp invested 200 million dollars in the BTC market. The cryptocurrency has significant movements worldwide, as claimed by some analysts.

2TM Group CEO Roberto Dagnoni believes this investment in the crypto platform represents an ascent to the crypto market. This investment was raised in a type B financial round made by SoftBank Latin America Fund. This is the most significant investment of the company in a crypto company in LatAm.

2TM, as an investment beneficiary, affirms that its valuation reached 2,100 million dollars. The SoftBank investment comes as the cryptocurrency landscape in the country looks bleak. Investors feel limited with crypto moves in Japan following the crackdowns.

Mercado Bitcoin rises in a regulatory environment

Mercado Bitcoin

Although the Mercado Bitcoin has been affected by regulations, this investment fits perfectly. Bitcoin recovers from its decline by capitalizing above $32 billion.

This 2TM company will use the funds to expand its offerings and increase its operations. It is also intended to invest in a new infrastructure that meets the request for cryptocurrencies in the region. Crypto investments in Latin countries have increased in the last three years.

Dagnoni made several announcements promoting this new investment that will help the crypto future. He even dared to say that the platform is integrated to unleash the power of the institutional market.

SoftBank Group Corp future plans

SoftBank Group Corp, with 2TM, tries to make the Mercado Bitcoin grow and expand its operations in the Latin American region. Dagnoni added that his group is analyzing expanding throughout the region in Latam, but before that, they must expand their functions.

Mercado Bitcoin, launched in 2013, is a platform that has grown enormously in the last year. The crypto website users reach 2.8 million by 2021 and growing. This includes over 70% of all individual investors in the Brazilian stock exchange.

Over 700 thousand customers registered on the website between January and May due to Bitcoin rise. However, with 50% of the cryptocurrency in May, many traders withdrew from the market.

In the first five months of 2021, the company raised $5 billion. This company is significant in Latin America, it promotes financial technology and is looking for new investors. Supported by the Japanese company, the Bitcoin market may meet its objectives this year.

For now, the cryptocurrency future is uncertain, but cryptocurrencies are likely to regain their value. This Latin American company only hopes to provide all the help that the beginning cryptocurrency investor needs.

Carisbel Guaramato

Carisbel Guaramato

An avid content creator for over 4 years, Carisbel spends her time on blogs and technology news. She honed her skills as a social communicator and now finds crypto and blockchain news events worldwide for transmission through Cryptopolitan's neutral and incisive way.

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