Coinbase has begun talks to buy Brazil’s largest crypto exchange
The investors valued the 2TM exchange at $2,2 billion
28.03.2022 - 11:45
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What’s new? The Coinbase cryptocurrency exchange has begun talks to buy Brazil’s largest cryptocurrency exchange 2TM, the Estadão newspaper reported. The deal may be announced at the end of April.
What is known about 2TM? It is the parent company of Brazil’s Mercado Bitcoin exchange. In 2021, the number of clients of the crypto exchange exceeded 3 million and the trading volume reached $7,1 million. 2TM was valued at $2,2 billion in the latest Series B funding round led by Japanese holding company SoftBank. In January, the company bought a majority stake in Portugal’s first regulated crypto exchange, CriptoLoja.
What is known about Coinbase? It is the largest US cryptocurrency exchange, founded in 2012 by Brian Armstrong and Fred Ehrsam. Coinbase shares began trading on the US stock exchange in 2021. The trading platform became the world’s first public cryptocurrency exchange.
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