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Coinbase may purchase Brazil’ largest crypto exchange

Coinbase may purchase Brazil' largest crypto exchange 16

Reportedly Coinbase is in the final stages of negotiation with 2TM to acquire the largest crypto exchange in Brazil. 

Coinbase is a popular global crypto exchange. This exchange is currently providing its crypto offerings in almost every country under full compliance. This exchange is Nasdaq listed and also has better reputation in the US crypto industry as a first ranked crypto exchange. 

On 27 March, Estadão newspaper published a report on Coinbase and 2TM. As per the report, Coinbase exchange has been in talks with 2TM since last year and now both of them are at the final stage of the deal agreement.

This deal may complete in a few weeks and an official announcement about it may come at the end of next month. Under this deal, Coinbase will acquire 2TM, which is the owner of Mercado Bitcoin, Brazil’s largest crypto exchange.

Mercado Bitcoin exchange 

Mercado Bitcoin is a popular crypto exchange in Brazil and right now the exchange has around more than 3.2 million users because the exchange already crossed 3.2 Million crypto users in the last year. Around 1.1 million users were secured by exchange only in last year. 

In the last year, the Exchange recorded $7.1 billion worth of trading volume.

In June 2021, Mercado Bitcoin exchange secured $200 million through Series B funding round and $50 million in a second round. Officially, the exchange reported in November of last year that exchange value reached around $2.1 billion.

These services expansion related activities by such exchanges like Coinbase, CryptoCom, Binance are surges because of the sudden increment in the trade volume in Latin American regions. Reportedly Brazilian crypto traders’ trade volume surged by 3 times in 2021 over 2020 trade Volume in Stablecoins.

Read also: Statement of Vitalik hints Ethereum will take huge time to lower Gas fees

Coinbase may purchase Brazil’ largest crypto exchange


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