SAO PAULO (Reuters) - 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.
He did not provide further detail on the Mexican deal, which he said is now pending regulatory approval to be concluded, but noted Mercado Bitcoin is not necessarily buying another crypto exchange to launch in the country.
The move comes about one year after the company raised $200 million from SoftBank Group Corp's Latin America fund, hoping to...
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