Brazilian company backed by Softbank acquires Lisbon-based bitcoin market CriptoLoja

 

The Brazilian company 2TM, backed by Japan´s Softbank, is acquiring a controlling stake in Lisbon-based crypto exchange CriptoLoja.

2TM runs Latin America’s largest cryptocurrency exchange Mercado Bitcoin, and is valued at around USD 2.2 billion. It will now hold a stake in CriptoLoja, which has been in operation since July last year, after receiving Portugal’s first official license as a virtual asset service provider.

The Brazilian company declined to disclose the terms of the acquisition, but said the transaction is pending approval from the Bank of Portugal.

E-commerce in Portugal jumps to EUR 10 billion in 2021

“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,” Roberto Dagnoni, CEO of the 2TM group, pointed out in a statement.

2TM will start its expansion into Europe with an over-the-counter (OTC) operation, and in a second phase, it aims to bring the entire MercadoBitcoin.com platform to retail and institutional investors.

 

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