Operator of the largest online commerce platform in Latin America Mercado Libre informed about strategic investments in Paxos and the purchase of shares in 2TM Group, the parent company of the Mercado Bitcoin exchange.
Financial details are not provided.
The investment strengthened Mercado Libre’s “commitment to the development and use of crypto assets and blockchain technologies in the region,” according to a press release.
In December, the company integrated Paxos infrastructure solutions into the developed Mercado Pago digital wallet. Its users got the opportunity to buy/sell bitcoin, Ethereum and USDP.
In May 2021, Mercado Libre announced a $7.8 million acquisition of bitcoin in the first quarter. In December, the group’s real estate platform added the ability transactions with digital gold.
Recall that in December 2TM Group closed an extended round of Series B financing for $50.3 million.
In July, the management company raised $200 million from the SoftBank Latin America Fund, becoming the eighth largest “unicornin Latin America.