Parent Company of Crypto Exchange Mercado Bitcoin Raises $50.3M

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2TM Group, the parent company of Brazilian crypto exchange Mercado Bitcoin, has just completed an extended Series B funding round in which it has attracted $50.3 million, The Block reports.

In July, 2TM Group raised a total of $200 million from the SoftBank Latin America Fund, making it the eighth largest unicorn in Latin America.

New investors include US funds 10T and Tribe Capital, as well as Brazilian firms Traders Club, Pipo Capital and Endeavour.

2TM will use the funds raised to expand in Latin America. The company has said that Argentina, Chile, Colombia and Mexico are “priority areas.”

According to the company, Mercado Bitcoin is the leading crypto exchange in the region. Between January and October, the platform’s trading volume amounted to 40 billion reais (about $7.1 billion at the current exchange rate).

In January, Mercado Bitcoin attracted $37.4 million to expand its presence in the Latin American markets.

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