Tether is investing $20 million in Brazilian crypto platform Mercado Bitcoin as part of a strategic financing round meant to help accelerate onchain financial infrastructure across Latin America.
The investment will support Mercado Bitcoin as it expands into tokenization, payments, lending, and capital markets, according to a Tuesday announcement.
Mercado Bitcoin has been a long-time player in the crypto ecosystem. It was founded in 2013 and primarily operated as a crypto exchange. Now it has expanded into a digital financial services platform that offers tokenized investment products, stablecoin payments, credit, and cross-border banking infrastructure.
The company said it serves 4.5 million users, has issued more than $370 million in tokenized assets and holds more than ten regulatory licenses across Brazil and Europe.
Mercado Bitcoin said it will use the new capital to expand its payments infrastructure, add more tokenized offerings, develop its lending and credit businesses and support its onchain capital markets push.
