Mercado Bitcoin has raised $200 million from Soft Bank. The crypto exchange is now valued at $2.1 billion. With that valuation, Mercado Bitcoin has become the eighth largest unicorn in South America. A unicorn is a start-up that is worth at least $1 billion.
Mercado Bitcoin is based in São Paulo, Brazil. The exchange is one of the largest in South America.
Mercado Bitcoin announced it will use the funds for:
- expanding its offerings
- increasing its scale
- its infrastructure
Gustavo Chamati, Mercado Bitcoin’s Co-Founder and Board Member stated:
“Mercado Bitcoin and its sister companies have demonstrated both innovation and leadership in the space. As we’ve developed a scalable market infrastructure, we have become the most trusted crypto brand in Brazil. This unique positioning has allowed us to capitalize on the surging interest in cryptocurrencies in both Brazil and Latin America more broadly, resulting in the significant expansion of our market share in the past year and paving the way for continued growth.”Gustavo Chamati, Mercado Bitcoin’s Co-Founder and Board Member
Mercado Bitcoin is booming since the beginning of the year! 2.8 million people use the platform. 700000 more compared to 2020!
The demand for cryptocurrencies in South America is rising! Currencies like the Brazilian real are highly inflated. And since El Salvador became bullish on bitcoin, all eyes are on the other South American countries!
The crypto industry is growing at an insane speed right now – and South America is one of the main drivers for mass adoption!