Coinbase is reportedly going  to complete its international deal with the acquisition of 2TM, a Brazilian company behind the Mercado Bitcoin.

In specific, as in the news reported by Estadao, a 212-million-viewer, Coinbase’s acquisition will possibly be completed by next month as the negotiation process has taken place in the beginning of 2022.

Mercado Bitcoin is the largest crypto brokerage in Latin American countries. Its parent company, 2TM surpassed the billion-dollar mark in 2021, now valued at $2.2 billion. 2TM also developed its own acquisition strategy, especially in Portuguese-speaking countries.

The list of 2TM’s company umbrella includes big names such as MB Digital Assets, Meubank, CriptoLoja, Bitrus, Blockchain Academy, MezaPro, Portal do Bitcoin and Wuzu. 

As for Coinbase, purchasing 2TM shows that their international acquisition strategy is getting bigger day by day. Recently, the San-Francisco-based exchange platform was reported to buy an Indian AI-powered customer service startup and a blockchain platform named Bison Trails. 

In the report “Where next for crypto in Latin America”, Brazil reportedly has ‘direct crypto trading is growing rapidly’ and a tremendous 7-times increase of Mercado Bitcoin volume in just 2 years. Moreover, Coinbase is also hiring extensively for business development managers and executives roles.

The fact that Brazil is a Bitcoin hotspot is mainly because Rio de Janeiro will accept crypto as a payment for particular types of tax in 2023. Around 10 million Brazilians are reported to own a specific type of digital currency. 2021 was the year of “mass adoption” for Brazil as many high-profile players jumped in ranging from UFC athletes to politicians.