Tether leads R$100M investment in Brazil's Mercado Bitcoin
What's the deal? Mercado Bitcoin has raised R$100 million ($19.5 million) in a late-stage round led by Tether, the issuer of USDT and the world's largest stablecoin. The deal is the first close of a larger round that also includes SoftBankDealroom has a profile for this one. Try Dealroom → and the Brazilian platform's founders.
What's the endgame? Mercado Bitcoin will use the money to expand infrastructure for tokenisation, payments, credit, and blockchain-based capital markets. The funds also target tokenised products for retail and institutional investors, lending operations, and international expansion.
Who's backing it? SoftBank has invested since 2021, when Mercado Bitcoin became a unicorn. The company did not disclose the total round size, its valuation, or the stake Tether acquired.
"Mercado Bitcoin has built a regulated, integrated on-chain financial services platform serving millions of users in one of the world's most dynamic financial markets," said Paolo ArdoinoDealroom has a profile for this one. Try Dealroom →, chief executive officer of Tether. He framed the deal as part of Tether's strategy to back companies building blockchain-based financial infrastructure.
Why now? Crypto firms and traditional institutions are pushing further into tokenisation, stablecoins, and digital payments. In Brazil, the shift tracks with the Banco Central's consolidation of rules for virtual asset service providers and growth in blockchain-based financial products.
"The discussion is no longer whether financial services will migrate to on-chain infrastructure. That transition is already underway," said Roberto DagnoniDealroom has a profile for this one. Try Dealroom →, chairman and chief executive officer of Mercado Bitcoin.
The signal: The world's biggest stablecoin issuer is planting capital in Latin America's crypto infrastructure, betting that regulated, on-chain financial services scale fastest in fast-moving emerging markets.
Read more: Valor Econômico
Image credit: jdlasica
