Mercado Bitcoin Plans to Expand to Mexico

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Brazil-based crypto exchange Mercado Bitcoin intends to expand into the Mexican market.

According to the platform CEO Reinaldo Rabelo, the company is awaiting approval from local regulators.

According to him, the exchange intends to expand the geography of its services this year, however, he has not unveiled additional details con the company’s plans.

Rabelo said in April that foreign takeovers are “the easiest way” to enter new markets. According to him, these firms already operate in accordance with the laws of a certain jurisdiction. He has said:

“Therefore, mergers are the more obvious choice for expansion.”

2TM Group, the parent company of Mercado Bitcoin, closed at the end of 2021 a $50.3 million Series B extended funding round.