Backed by the SoftBank investment group in Tokyo, 2TM, the parent company of the largest crypto marketplace in South America - Mercado Bitcoin, will be taking a Portuguese crypto exchange CriptoLoja under its wing.
This expansion of 2TM can be linked to a secured funding round for its subsidiary Mercado Bitcoin. The funding was led by SoftBank, which amounted to a total of $200M.
According to a report by Reuters, 2TM has already sent out a request for the acquisition of CriptoLoja to the Central Bank of Portugal and is currently waiting for approval. The CEO of 2TM Roberto Dagnoni commented on the decision, stating:
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"Portugal is a strategic market for us, because it requires a specific license, is becoming an important hub for crypto in Europe and opens a gateway into the larger European market…"
Lisbon-based exchange CriptoLoja has been a licensed crypto provider for over a year now. Its founders Luís Gomes and Pedro Borges will stay within the company to help the expansion of 2TM across Europe and South America.
2TM is a Brazil-based digital ecosystem that is looking to empower and help the development of emerging FinTech companies, especially those focusing on blockchain technologies.
