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Brazilian company 2TM acquires Lisbon-based bitcoin exchange CriptoLoja

As Latin America’s largest cryptocurrency exchange, 2TM views acquisition as gateway to European market.

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As Latin America’s largest cryptocurrency exchange, 2TM views acquisition as gateway to European market.

ARTICLE BY

PUBLISHED

READING TIME

Less than 1 minute Minutes

UPDATED: 22 Dec 2023, 4:45 am

Brazil’s 2TM, backed by Japan’s Softbank, is acquiring a controlling stake in Lisbon-based crypto exchange CriptoLoja.

2TM runs Mercado Bitcoin, Latin America’s largest cryptocurrency exchange, and is valued at around US$2.2 billion.

It will now hold a stake in CriptoLoja, which has been in operation since July 2021, after receiving Portugal’s first official licence as a virtual asset service provider.

2TM declined to disclose the terms of the acquisition, but said the transaction is pending approval from the Bank of Portugal.

“Portugal is a strategic market for us, because it requires a specific licence, and is becoming an important hub for crypto in Europe, opening a gateway into the larger European market,” commented Roberto Dagnoni, 2TM’s CEO.

2TM will start its expansion into Europe with an over-the-counter operation, and in future aims to bring the entire MercadoBitcoin.com platform to retail and institutional investors, CLBrief reported.

 

UPDATED: 22 Dec 2023, 4:45 am

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