Tether Invests $20 Million in Mercado Bitcoin

Tether has invested $20 million in Mercado Bitcoin as the stablecoin company grows its exposure to regulated crypto infrastructure in Latin America. SoftBank also joined the financing round.

Good to Know

• Mercado Bitcoin serves more than 4.5 million customers.
• The funding will support payments, tokenized assets and on-chain markets.
• Tether has already invested in several Latam crypto companies.

Tether Backs Mercado Bitcoin Growth

Mercado Bitcoin plans to use the capital to improve payment infrastructure, add tokenized investment products and grow on-chain financial services across Latin America.

The company operates in Brazil and Europe and wants to enter more regional markets. Tether called Mercado Bitcoin “one of the most comprehensive regulated on-chain financial platforms in Latin America”.

Paolo Ardoino, CEO of Tether, said both companies aim to build a more “open, accessible and efficient financial infrastructure for the world.”

“Mercado Bitcoin has built exactly that, a regulated, full-stack on-chain financial platform serving millions of users across one of the world’s most dynamic financial markets.. We look forward to supporting Mercado Bitcoin’s next phase of growth as a strategic partner and investor,” he declared.

Brazil Crypto Rules Support Expansion

Brazil is developing clearer rules for stablecoins and crypto companies as more institutions adopt on-chain payments and financial services.

Roberto Dagnoni, chairman and chief executive of Mercado Bitcoin, said the investment would strengthen company plans to speed up “the next generation of on-chain financial services in Brazil and across global markets.”

Tether has also backed Parfin, Orionx and mobile payment company Oobit as part of its wider Latin America strategy.