SoftBank invests $200 mln in Latam cryptocurrency exchange – Reuters
- Date: 02-Jul-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
SoftBank invests $200 mln in Latam cryptocurrency exchange – Reuters
NEW YORK, July 1 (Reuters) - Japan's SoftBank Group Corp (9984.T) has invested $200 million in Mercado Bitcoin, one of the largest cryptocurrency exchanges in Latin America, said Roberto Dagnoni, executive chairman and chief executive officer of 2TM Group, the trading platform's parent company.
The investment, raised in a Series B funding round, was made through SoftBank Latin America Fund and represents the Japanese multinational company's largest investment in a Latin American crypto company. As a result of the investment, 2TM said its valuation reached $2.1 billion.
The SoftBank capital raise comes at a time when investor sentiment on cryptocurrencies has soured amid regulatory crackdowns in China, Britain and Japan. That has led to outflows from crypto investment products and funds the last few weeks. read more
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