SoftBank Group Corp announced the completion of a new investment deal with Latin American crypto exchange giant, Mercado Bitcoin. The deal will see Japan’s SoftBank investing over US$200m in the crypto trading firm, which has now reached a valuation of US$2.1bn.
Participating in Mercado’s recent Series B funding round, Softbank disbursed its investment from its Latin America Fund. This investment is also Softbank’s biggest yet in any crypto firm within the Latin American region.
This move by SoftBank is not the most expected one seeing how investors have been forced to tone down inflows because of China’s recent crackdown on the crypto industry.
Mercado Bitcoin will deploy the new capital towards scaling up the business, developing its services, and updating the infrastructure to serve the ever-increasing demand in the region.
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