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Exchange Bitcoin Market Aims at Internationalization

Posted by on January 21, 2021, tagged as ,

The Bitcoin Market, Latin America's largest exchange, announced on Thursday (21) that it had received a millionaire contribution that will allow the exchange to start an international expansion plan.

Among the new investors in the Bitcoin Market are:

The GP Inova Fund, by GP Investimentos;

Parallax Ventures and Sublimis Funds, of Parallax Ventures;

Fundo Évora, by Zé Bonchristiano;

HS Investimentos' FIP;

Banco Plural;

And Gear Ventures.

“(We will) accelerate the internationalization project and expand the leadership as the largest platform for digital assets in blockchain in Latin America”, highlighted the MB in a press release.

Exchange Bitcoin Market Aims at Internationalization

With the investment received in early 2021, Exchange plans to invest R $ 200 million to expand the company's international operations with the opening of new operations in more countries in Latin America.

Currently, the Bitcoin Market already serves international customers from its operation in Brazil.

However, the idea is to expand the user base in more countries.

Crypto custody service and digital gang are also targeted by Exchange

In addition to the simple international expansion, the exchange will invest in two important fronts for the consolidation of leadership.

The first is called Bitrust, a qualified custody service with dedicated service, which will allow institutional investors access to the cryptocurrency and digital assets market.

Part of the investment will also go to Meubank, a digital wallet, in the process of being regulated by the Central Bank, in which the client will be able to store various digital assets (rewards, miles, cryptography, game collectibles) and convert, invest, pay bills and transfer money.

2 million customers and targeting 3 million

The Bitcoin Market has a plan to end the year 2021 with more than 300 people on the team, in addition to reaching the mark of 3 million customers on the platform.

In the past two years, according to the company, the number of customers of the exchange has jumped to 2,2 million.

In addition, in 2020 alone, R $ 6,4 billion were traded on the platform.

Taking advantage of Bitcoin's rise, the company claims to have traded more than 50% of the entire 2020 volume in January 2021.

Last year, the Bitcoin Market team also doubled in size, from 100 people on the team to more than 200 people.

The exchange also launched the first token linked to Brazilian professional football, Vasco Token.

Crowdfunding licensed by CVM

At the same time that it has advanced a lot with the recent rise of Bitcoin in 2020, the platform has obtained a license from the CVM to operate Clearbook.

It is a crowdfunding platform for startups to raise funds and for investors who want a new form of investment.

This is a market with ample potential in the world, which, however, always has to deal with regulatory problems.

Therefore, the Bitcoin Market is seeking to act within the rules of the CVM to bring more legal certainty to the space and capture the market.

“We want to develop the crypto ecosystem in Brazil and create a market as developed as that of the United States. For this, we want to be one of the five largest digital exchanges in the world. Now, let's also look at the other markets, such as Chile, Mexico and Argentina, which have a regulatory culture closer to ours ”, explains Reinaldo Rabelo, CEO of the Bitcoin Market.

Thus, the exchange's long-term purpose is to participate in the construction of a new infrastructure for the financial market based on blockchain, smartcontracts and crypto.

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