{"id":22078,"date":"2022-03-28T14:38:14","date_gmt":"2022-03-28T13:38:14","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=22078"},"modified":"2022-03-28T14:38:23","modified_gmt":"2022-03-28T13:38:23","slug":"coinbase-reportedly-plans-to-buy-the-2-2-billion-brazilian-unicorn-behind-mercado-bitcoin","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/coinbase-reportedly-plans-to-buy-the-2-2-billion-brazilian-unicorn-behind-mercado-bitcoin\/","title":{"rendered":"Coinbase Reportedly Plans To Buy The $2.2 Billion Brazilian Unicorn Behind Mercado Bitcoin"},"content":{"rendered":"\n
Coinbase has been reported to be at the completion stage of the purchase of 2TM, the company behind Mercado Bitcoin that is worth $2.2 billion.<\/h5>\n\n\n\n
\n
\"\"<\/figure>\n
Coinbase plans to buy the Brazilian unicorn behind Mercado Bitcoin<\/figcaption><\/figure>\n\n\n\n

<\/p>\n\n\n\n

Coinbase is planning to expand its global acquisition strategy by purchasing 2TM, the Brazilian parent company of Mercado Bitcoin.<\/p>\n\n\n\n

The Coinbase deal could be completed by next month, according to Estado\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, Brazil's third-largest daily, which is read by 212 million people. Throughout 2022, negotiations for the purchase have been ongoing.<\/p>\n\n\n\n

Mercado Bitcoin is Latin America's largest cryptocurrency exchange, and its parent firm, 2TM, became a billion-dollar company in 2021. 2TM, which has a market capitalization of $2.2 billion, has likewise followed an acquisition strategy, focusing on lusophone countries. In January, 2TM's Mercado Bitcoin purchased Portuguese CriptoLoja, a Lisbon-based crypto exchange.<\/p>\n\n\n\n

Meubank, MB Digital Assets, CriptoLoja, Bitrust, Blockchain Academy, MezaPro, Wuzu, and Portal do Bitcoin are now part of the 2TM holding company.<\/p>\n\n\n\n

The alleged planned purchase of 2TM by Coinbase suggests that the company's worldwide acquisition strategy is gaining traction. The San Francisco-based exchange recently purchased blockchain-infrastructure platform Bison Trails, after the acquisition of an Indian AI business to improve customer service after negative criticism from users proved too much.<\/p>\n\n\n\n

Brazil is cited 31 times in Coinbase's most recent institutional investor report on Latin America, “crypto in Latam,” whereas Mexico (with a higher GDP but plenty of crypto interest) is listed only 17 times.<\/p>\n\n\n\n

According to reports in Brazil:<\/p>\n\n\n\n

“Direct crypto trading is growing rapidly. Locally based crypto exchange Mercado Bitcoin has seen transaction volumes increase seven-fold year-on-year to August.\u201d<\/p><\/blockquote><\/figure>\n\n\n\n

The world's second-largest cryptocurrency exchange has been on the lookout for business development managers and executives as part of a Brazilian hiring binge<\/use><\/svg><\/span><\/a>, which is a keystone of the group's Latam expansion goals.
<\/p>\n\n\n\n

Brazil is a hub for Bitcoin acceptance, and it's easy to see why. According to triple-A, more than 10 million Brazilians own cryptocurrencies and the capital, Rio de Janeiro, will accept cryptocurrency for certain taxes in 2023<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Coinbase has been reported to be at the completion stage of the purchase of 2TM, the company behind Mercado Bitcoin that is worth $2.2 billion. Coinbase is planning to expand its global acquisition strategy by purchasing 2TM, the Brazilian parent company of Mercado Bitcoin. The Coinbase deal could be completed by next month, according to […]<\/p>\n","protected":false},"author":33,"featured_media":22080,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32,21],"tags":[150,8489],"class_list":["post-22078","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","category-news","tag-coinbase","tag-mercado-bitcoin-2"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2022\/03\/https___d1e00ek4ebabms.cloudfront.net_production_e941def4-c232-4792-97a3-5d615d0be84e.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22078","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/33"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=22078"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/22078\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/22080"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=22078"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=22078"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=22078"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}