Tether continues to add to the Latin American market. The company disclosed that $20 million had been invested in Mercado Bitcoin, the Brazilian Digital Finance Platform, as part of a strategic financing round, with the objective of facilitating the expansion of block-chain financial services in Latin America.
Platform business has gone beyond encryption transactions
Mercado Bitcoin was established in 2013 and has expanded from an encrypted trading platform to an integrated digital finance platform. In addition to encrypted asset transactions, its operations cover monetized investment products, borrowing, stable currency payments, banking infrastructure and cross-border financial services.
According to company-disclosed data, the platform currently has about 4.5 million users, has issued more than 2 billion Brazilian reais and holds more than 10 financial licence plates in Brazil and Europe.
Tether's CEO, Paolo Ardoino, stated that Mercado Bitcoin had established a compliance chain financial platform for millions of users and that Tether would support its next growth phase as a strategic partner and investor.
Funds will be invested in payment and tokenization products
The new funds will be used mainly for the expansion of Mercado Bitcoin ' s core operations, including the strengthening of a stable currency payment network, the expansion of tokenized investment products for retail and institutional clients, and the expansion of lending and credit services.
- The stable currency payment network will continue to expand.
- Currencyized investment products cover retail and institutional clients
- Lending, credit and cross-border services synchronized
The company also plans to move forward in its chain capital market operations and to seek new partnerships while continuing its international expansion. According to the article, Mercado Bitcoin is positioning itself as a complete block-chain financial platform rather than a single encrypted exchange.
Tether looks at the financial development of the Brazilian chain.
According to Tether, Brazil is becoming one of the world ' s most important block-chain markets as regulation advances, digital adoption rates rise, and market demand for monetized financial products increases.
Mercado Bitcoin Chief Executive Officer Roberto Dagnoni said that the question of whether the financial system would be chained was no longer the focus of discussion and that the transition had begun. This investment will enhance the ability of companies to advance a new generation of financial services in Brazil and the wider international market.
Additional information:Mercado Bitcoin has previously issued more than R$2 billion in monetized assets, which means that its cooperation with Tether refers not only to stable currency payments, but also to the expansion of monetized financial products.