Coinbase Global is reportedly in talks to acquire 2TM, owner of Brazil’s largest crypto exchange Mercado Bitcoin.
According to the news of Estadão newspaper, Coinbase, the largest crypto asset trading platform in the USA, is preparing to buy 2TM. According to the information in the news, talks have been taking place between the two companies since last year and there is a possibility that an agreement will come in April.
2TM, $200 million last June; In November, it collected $50 million and reached a valuation of $2.1 billion. Mercaco Bitcoin, on the other hand, had 3.2 million customers in 2021, and in the same year, the trade volume exceeded $ 7.1 billion.
Leading crypto-asset trading platforms such as Binance and Coinbase had their eyes on Brazil due to increased adoption.
2TM CEO Roberto Dagnoni told CoinDesk that the company plans to expand in Latin America with acquisitions in Argentina, Chile, Colombia and Mexico. Similarly, Binance CEO Changpeng Zhao said during his visit to Sao Paulo on March 16 that he plans to acquire banks and payment processors in Brazil.
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