
Tether invests $20M in Mercado Bitcoin
- Tether invested US$20 million in Brazilian cryptocurrency platform Mercado Bitcoin to expand blockchain finance across Latin America.
- The funding will support tokenised assets, stablecoin payments, lending and other blockchain-based financial services.
- The investment forms part of Tether's broader strategy of backing digital asset infrastructure using company profits.
Tether invested US$20 million in Mercado Bitcoin to support the Brazilian cryptocurrency platform's expansion into tokenised assets, stablecoin payments, lending and blockchain-based financial services across Latin America.
Mercado Bitcoin has expanded beyond cryptocurrency trading since its 2013 launch and said it now serves more than 4.5 million users, has issued more than 2 billion Brazilian reais (about US$370 million) in tokenised assets and operates under nearly a dozen licences in Brazil and Europe.
“Mercado Bitcoin has built one of Latin America's most comprehensive regulated onchain financial platforms,” said Tether chief executive Paolo Ardoino.
Mercado Bitcoin said it will use the investment to expand its tokenisation business after deploying more than US$20 million in tokenised private credit on the Rootstock Bitcoin (CRYPTO:BTC) sidechain in February.
The investment expands Tether's infrastructure portfolio, and following the announcement there was no share price reaction because both companies are privately held.
The company has recently invested in Stablecoin Development Corporation, remittance platform LemFi and a Georgian stablecoin initiative, while also expanding into artificial intelligence, energy, biotechnology and digital media through its investment arm.
At the time of reporting, Bitcoin price was $63,538.84.