Brazil crypto exchange Mercado Bitcoin to expand into Mexico this year, says CEO

SoftBank-backed Brazilian crypto exchange Mercado Bitcoin is set to enter the Mexican market by the end of the year, as part of a plan to expand elsewhere in Latin America, its chief executive told Reuters.

“Certainly, in the second half of the year we start operating in Mexico,” Mercado Bitcoin’s CEO, Reinaldo Rabelo, said in an interview, adding that talks for regulatory approval in the country are in their final stages.

Rabelo said the move will be done through an acquisition, mirroring the way Mercado Bitcoin’s holding company 2TM entered Portugal earlier this year when it bought Lisbon-based exchange CriptoLoja.

Reporting by Paula Arend Laier; Writing by Peter Frontini; Editing by Chizu Nomiyama via Reuters

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