Coinbase Reportedly Taking Over Brazil Largest Crypto Exchange Mercado Bitcoin
Brazil’s largest crypto exchange, Mercado Bitcoin, is said to be Coinbase’s new target for acquisition.
As reported in the Estadão newspaper on Sunday, a takeover could be announced by mid to end of April, with the two parties, Coinbase and 2TM, the owner of Mercado Bitcoin, having been in talks since last year.
Mercado Bitcoin’s trading volume reached $7.1 billion in 2021 as its customer base grew by 1.1 million in the year to a total of 3.2 million.
After a second closing of a Series B funding round in November last year, 2TM was valued at $2.1 billion.
2TM also owns Meubank, MB Digital Assets, Bitrust, Blockchain Academy and MezaPro.
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Source: igaming
