Softbank-backed Brazilian crypto company launches new venture unit

NEW YORK, Dec 10 (Reuters) – Brazilian company 2TM, backed by Softbank, which runs Latin America’s largest cryptocurrency exchange, has launched a venture capital unit focused on blockchain companies around the world, the director said. company executive in an interview.

2TM, valued at approximately $ 2.2 billion after the last $ 50 million fundraiser, is the holding company of Mercado Bitcoin, with 3.2 million customers in October 2021. During the first 10 months of the year, the volume of Trade on the crypto exchange surged to $ 6.4 billion, exceeding its total for the first seven years.

The Brazilian firm raised $ 200 million from Japan’s SoftBank Group Corp (9984.T) for Mercado Bitcoin in a funding round over the summer. read more

2TM Ventures, the company’s new unit, has so far invested $ 32 million in a portfolio of 10 companies in the crypto universe, 2TM CEO Roberto Dagnoni told Reuters.

“We want to be the infrastructure provider for the token economy,” Dagnoni said.

2TM Ventures seeks to become a catalyst for the new economy by supporting innovative and disruptive companies that are creating new financial applications and concepts, Dagnoni added.

Investments will be made using both traditional financial instruments such as stocks and convertible notes, as well as new instruments, including the direct purchase of tokens.

Some of 2TM’s investments include a stake in $ PRINTS tokens in Fingerprints DAO (Decentralized Autonomous Organization), a non-fungible token collection and holding group.

NFTS are unique digital assets that cannot be replaced with something else. Many NFTS are part of the Ethereum blockchain.

2TM also led the seed round at Tropix, a digital art NFT marketplace, and at SL Tools, a financial market infrastructure provider using blockchain.

As believers in “the tokenization of everything”, Dagnoni believes that SL Tools can become a market for traditional and digital assets.

Reporting by Gertrude Chavez-Dreyfuss; Editing by Alden Bentley and Karishma Singh

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