One of the top crypto exchanges of Brazil, Mercado Bitcoin, has come in highlights as it is planning to expand internationally. Not only in Brazil, but it is also the largest crypto exchange in Latin America as per its trading volume. Recently, Mercado Bitcoin has generated more than $37 million in its investment round from some prominent venture capitalists. After raising such a huge investment, the company is now hoping to get out of Brazil and expand across different countries in Latin America. Mercado Bitcoin Aims to Become One of the Largest Crypto Exchange Reinaldo Rabelo, CEO of Mercado Bitcoin, has said that they are hoping to compete with the top players of the industry. As per his statement: “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.” Rabelo has also mentioned that they are targeting markets like Chile, Mexico, and Argentina as they are having Brazil like regulatory infrastructure. Over the past few months, it has been seen that Brazil is having quite a great stance for crypto. The Brazilian central bank is also considering issuing its central bank digital currency (CBDC). Brazilian Government Getting Liberal Regarding Crypto Trading This cannot be said that Brazil’s legal system is very crypto-friendly but it has started getting quite liberal towards crypto trading. A lot of crypto businesses have entered the Brazilian market over the past few years. This directly indicates that Brazil’s crypto market is getting more open to growth opportunities and different firms are seeing great potential here. Even though there are a lot of crypto businesses that are operating in the country, Mercado Bitcoin is the one that is having the largest volume. This is the reason why the exchange is looking to expand in the international market.
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