2TM buys CriptoLoja
The Brazilian cryptocurrency company 2TM has bought the Portuguese platform Criptoloja.
The Brazilian company has declined to divulge the acquisition price or the terms of the transaction, but has stated that it is awaiting approval from the Bank of Portugal.
2TM, supported by Softbank, will acquire the controlling share in the Portuguese digital assets transaction platform.
According to Reuters, 2TM manages the largest cryptocurrencies platform in Latin America, Mercado Bitcoin, which has been valued at around US$2.2Bn.
CriptoLoja has been in operation since July last year after it received the first ever official licence in Portugal from the authorities to provide virtual asset services.
“Portugal is a strategic market for us, and it requires a specific licence. It is becoming an important hub for crypto in Europe and opens the door to the European Market”, said Roberto Dagnoni, CEO of group 2TM”, in a communiqué.
2TM will now launch a European expansion with an ‘over-the-counter’ operation, taking the MercadoBitcoin platform in a second phase to institutional and retail investors.