Mercado Bitcoin’s Grand Plans
Buckle up, crypto enthusiasts! Mercado Bitcoin, Brazil’s heavyweight in the Bitcoin exchange ring, is ready to throw its hat into the Latin American arena. With an ambitious vision led by CEO Reinaldo Rabelo, the exchange aims to conquer key markets in Chile, Mexico, and Argentina. It’s a bit like the World Cup of Bitcoin; only this time, the trophy is digital currency supremacy.
Why Chile, Mexico, and Argentina?
So, why these particular countries, you ask? Rabelo highlights a remarkably similar “regulatory culture” to Brazil’s in these regions, paving the way for smoother expansion than a tango in Buenos Aires. With Mexico sitting pretty at fourth place in peer-to-peer Bitcoin trading volume in Latin America, followed closely by Chile in fifth and Argentina in seventh, the demand is crystal clear. There’s a crypto hunger in these countries that centralized platforms haven’t quite managed to satiate.
The P2P Perspective
The numbers from Useful Tulips reveal a significant potential market. This strong peer-to-peer trading activity is a tell-tale sign that local traders are eager for more options. If centralized platforms are akin to the big box stores of the crypto world, P2P trading platforms have a quaint farmer’s market vibe—offering personalization that isn’t always available through the corporate behemoths.
Funding the Future
Expanding doesn’t come cheap, but Mercado Bitcoin just secured nearly $38 million from savvy investors such as Parallax Ventures and Banco Plural. Think of it as a financial power-up in a video game. Some of this cash is earmarked for investment in regulated custodian Bitrust, aiming to woo institutional investors into playing in the crypto sandbox. Additionally, the exchange will throw some funds towards Meubank, a digital wallet that will allow users to safely store not only their crypto assets but also gaming collectibles. Talk about being a one-stop-shop for the digitally inclined!
Aiming High
With aspirations to not just expand but dominate, Rabelo has lofty goals. “We want to develop the crypto ecosystem in Brazil and create a market as developed as that of the United States,” he declared. It’s an ambitious long-term goal to be one of the five largest digital exchanges globally, a crypto conglomerate if you will. Just envision it: a crypto exchange that isn’t just surviving, but thriving and reshaping the financial landscape with blockchain and smart contracts—like a digital renaissance.
Growth and Goals
Mercado Bitcoin isn’t just flexing its plans; it’s also seen impressive growth since opening its digital doors in 2013. With over $3.7 billion in trade volume and a doubling of its user base from one million to a whopping 2.2 million in just two years, this exchange is on fire! By 2021, they’re aiming for over 3 million users and a team expansion from 200 to 300 employees. Now that’s what I call ambition!
