SÃO PAULO--(BUSINESS WIRE)--Brazil’s 2TM Group, the owner of MercadoBitcoin.com, Latin America’s largest crypto exchange, today announced the acquisition of a controlling stake in CriptoLoja, the first licensed Lisbon-based crypto exchange. In June 2021, CriptoLoja received Portugal's first official license as a "virtual asset service provider" from Banco de Portugal, the nation’s central bank, which still needs to approve this acquisition.
“Crypto is a global business. Our Series A & B funding rounds gave us the momentum we needed to expand our international footprint. In addition to an enhanced financial opportunity, the investment provides us with outstanding technology required to compete globally,” said Roberto Dagnoni, CEO of 2TM group. “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.”
The Brazilian holding company will start its expansion into Europe with an over-the-counter (OTC) operation. As a second phase, it intends to take the entire MercadoBitcoin.com platform to retail and institutional investors. “We will access the European market using the clear synergies with our presence in Latin America, as we share the same language, a recognized brand, and cross-sell opportunities for customers. There are many Brazilians living in Portugal who would love to invest through our platform,” said Dagnoni.
2TM views the EU-regulated environment as a highly beneficial operating space. “It is a path that we are looking for in Brazil, and we see it as the necessary one for the institutionalization of the market. Being in Portugal is an important competitive advantage for large B2B customers and OTC operations," explained Dagnoni. This acquisition establishes 2TM’s presence in an emerging fintech and blockchain ecosystem in Europe, as Portugal is considered one of the continent’s most crypto-friendly countries.
CriptoLoja’s founders, Luís Gomes and Pedro Borges, will remain co-heads of the business while also leading 2TM’s expansion on the continent. “There is no doubt that being part of a company backed by SoftBank, as well as funds such as Tribe and 10T, contributes to building our reputation in Portugal. In addition, there is 2TM’s expertise in building a strong exchange, the largest in digital assets in Latin America, and in spearheading the transformation of the sector in the region. We aim to do the same with Portugal and Europe,” said Luis Gomes.
Pedro Borges explains that the crypto ecosystem is flourishing in Portugal. “Cryptocurrencies are still an emerging topic in the country. All the virtual assets such as Bitcoin, Ether, etc., are generating a revolution and considerable demand.” He says the platform also intends to be the place for individuals or companies to go when thinking about investing, trading, exchanging or hedging crypto assets.
*The completion of the acquisition is pending Banco de Portugal approval.
About 2TM Group:
The 2TM Group is a Brazilian holding company managing a range of digital asset services and solutions. Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, is the crown jewel in its portfolio. In the first five months of 2021, the exchange processed transactions totaling almost $5 billion in volume. Sister companies include Meubank, a multi-asset wallet and account service currently waiting for a Brazilian Central Bank license, Bitrust, a qualified digital custodian, Clearbook, an equity crowdfunding platform, MBDA, an asset tokenizer, Mezapro, which provides services to institutional investors, and the Blockchain Academy, the group's educational arm. For more information, visit: https://www.2tmgroup.com/
CriptoLoja is a Portuguese cryptocurrency exchange based in Lisbon. In June 2021, the company became the nation’s first cryptocurrency exchange to be officially licensed by the Portuguese central bank. Founded by seasoned financial experts, the exchange offers its users access to the most popular coins, including Bitcoin, Ether, and Cardano. For more information, visit: https://criptoloja.com/