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Brazilian Crypto Firm 2TM Raises US$50 Million To Expand in LatAm

2TM wants to enter Chile, Colombia, Mexico and Argentina through strategic acquisitions.

Don't worry, we speak : Español (Spanish), too!

Not even half a year has passed since 2TM Participacoes SA raised US$200 million from Softbank. This brought them to a valuation of US$2,1 billion, and today it is already announcing a new US$50 million raise.

This is the second round of investments that started with the one led by Softbank last July. The recent raise was led by Tribe Capital and 10T Holdings. Endeavor Brasil, PIPO Capital Gestao de Investimentos Ltda. and TC Traders Club SA also participated.

2TM Is Looking For Acquisitions To Go Beyond Brazil

2TM are the second Latin American crypto-focused unicorn after Bitso. Following this financing, their next steps will be to expand outside of Brazil, hopefully finding acquisitions in Chile, Colombia, Mexico and Argentina.

Roberto Dagoni, CEO of the Brazilian exchange, told different media that the company’s goal is to be a financial infrastructure provider for financial markets in Latin America.

2TM is a holding company integrated by financial technology companies. Some companies included on their website are: Bitcoin Market, Meubank, MBDA digital assets, BITRUST, MezaPro, Clearbook, Blockchain academy and ParMais.

According to Techcrunch, the crypto firm founded by Gustavo and Mauricio Chamati became the first in the world to tokenize public debt assets in 2019.

A year later they issued Futecoin, the world’s first digital asset based on FIFA’s solidarity mechanism. This refers to the fact that if a professional player is transferred before his contract expires, the club or clubs that contributed to his training will receive part of the compensation paid to the previous club. This is known as a “solidarity contribution”.

How does this relate to 2TM? Futecoin was issued through Bitcoin Market, who will favor the holding company with profits if any players from the Vasco or Santos soccer teams are transferred.

Certainly in 2022 we will begin to see the expansion of 2TM in Chile, Colombia, Mexico and Argentina. We now just have to wait to see which companies will be integrated into the Brazilian holding’s ecosystem.

You may also be interested: Interesting times are upon us, says crypto startup Bitso

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