Tether has invested into Mercado Bitcoin in Brazil.
Tether officially announced a deployment of $20M in an investment round into Mercado. The world’s largest stablecoin issuer is continuing to show support for LATAM and emerging economy projects that focus on transforming traditional finance onchain.
In an official statement, Mercado CEO Roberto Dagnoni expressed:
The discussion is no longer whether finance will move on-chain. That transition is already underway.”
Mercado is an investment and brokerage platform that helps users in Brazil with personal finance and wealth portfolios, including access to owning a range of digital assets. The platform last raised a Series C round per Crunchbase, and has over 4M users today.
Recently, Brazil’s regulators have been toying with restricting stablecoin FX transfers out of the country.
While Tether’s underlying mission is to bring financial inclusion to individuals around the world via stablecoins, it is continuing to also make use of cash on its balance sheet to invest.
Over the last 24 months, this has been into industry adjacent projects, opportunities for distribution, as well as the latest technological advancements across other global sectors.
