GP Inova Fund, of GP Investimentos, Parallax Ventures and
Sublimis Funds, of Parallax Ventures, Evora Fund, of Ze
Bonchristiano; HS Investimentos FIP; Banco Plural and Gear Ventures
are participating in the investment to accelerate the
internationalization project and expand the leadership as the
largest blockchain digital assets platform in Latin America
SÃO PAULO, Jan. 21, 2021
/PRNNewswire/ -- Founded by brothers Gustavo and Mauricio Chamati
in 2013, Bitcoin Market has become the largest crypto-currency
exchange in Latin America. With
the investment received in early 2021, the startup plans to invest
BRL 200 million in order to
accelerate its growth and consolidate its leadership as the largest
digital asset platform in the region. The deal, led by fund
management company GP Investimentos and Parallax Ventures, also
includes the participation of Fundo Evora, of Ze Bonchristiano, HS
Investimentos FIP, Banco Plural and Gear Ventures.
The investment will be aimed at expanding the startup's
international operations with the opening of new operations in
Latin American countries. Currently, Bitcoin Market already serves
international customers from its operation in Brazil. In addition to international
expansion, the company will invest on two important fronts to
consolidate its leadership: Bitrust, a qualified custodian with
dedicated service, which will allow institutional investors access
to the crypto-currency and digital-assets market; and Meubank, a
true digital wallet, in the process of being regulated by the
Central Bank, in which the customer will be able to store various
digital assets (rewards, miles, crypto assets, game collectibles)
and convert, invest, pay bills and transfer money.
In 2017, the startup was bolstered by Reinaldo Rabelo, Roberto
Dagnoni and Mauro Negrete,
former executives of B3, who were in charge of the sale of GRV to
Cetip and Sascar to GP. Arnaldo
Rocha, a partner in DealMaker also joined the team. In the
same period, an advisory committee was formed, composed of ten
executives from traditional institutions, and together with the
Chamati brothers, the group began to design a market infrastructure
to guarantee the ability to tokenize, guard and trade digital
assets.
This was the first step in transforming the business. At the
time, the company had just over one million registered customers
and since its founding, it had traded around BRL 10 billion, with only four digital currencies
on the platform.
In the last two years, the number of customers jumped to 2.2
million and in 2020 alone, BRL 6.4
billion were traded on the platform. In January 2021 alone, the company traded more than
50% of the entire volume of 2020. Last year, Bitcoin Market also
doubled in size, going from 100 people on the team to more than 200
people, and launched the world's first token linked to soccer, the
Vasco Token. The company is in advanced talks with several clubs to
make new tokens of this kind, based on FIFA's solidarity mechanism.
At the same time, it obtained a license from the CVM to operate
Clearbook, a crowdfunding platform for startups to raise funds and
for investors who want a new form of investment.
"We want to develop the crypto ecosystem in Brazil and create a market as developed as
that of the United States. To do
this, we want to be one of the five largest digital exchanges in
the world. Today, we are already the largest exchange in
Latin America, operating almost
exclusively in Brazil. Now, we're
going to look at the other markets, like Chile, Mexico
and Argentina, which have a
regulatory culture closer to ours. Our long-term purpose is to
participate in the construction of a new infrastructure for the
financial market (IMF), based on blockchain, smartcontracts and
crypto assets", explains Reinaldo
Rabelo, CEO of Bitcoin Market.
Over the past eight years, with a diverse and creative team,
Bitcoin Market has set out to build the financial market of the
future. At this rate, it will achieve its goal of democratizing
access to high return investments, and go on to reach greater
heights. For 2021, the plan is to end the year with more than 300
people on the team, in addition to reaching the mark of
approximately 3 million customers on the platform.
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SOURCE Mercado Bitcoin