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Saturday, 28 January 2023
How Coinbase Could Benefit from Brazil’s Crypto Unicorn 2TM

How Coinbase Could Benefit from Brazil’s Crypto Unicorn 2TM

2022-10-31

 

With a combined value of $4.6 billion, the five most valuable cryptocurrencies in the world are all based in North America or Europe. But that could change soon. South America has its fair share of cryptocurrency success stories. From Brazilian Bitcoin mining company BeloBTC to the Venezuelan Ether mining farm Suds.com, there are plenty of crypto companies that have found a way to make it work in the country.

And now, yet another crypto company from Brazil has just been valued at over $1 billion. Yes, you read that correctly, a Brazilian company has just been valued at over $1 billion. But is that really such a big deal? After all, look at what we’ve already seen from the country:

A $320 million token sale

In January 2018, Brazilian venture capital firm Forte Capital announced that it had raised $320 million for its Forteeth token sale. Forte Capital is partnered with the Brazil-based blockchain research and consulting firm Altchev. The two companies teamed up to issue what they called the first global token sale for Latin America and the Caribbean.

A $1.3 billion cryptocurrency exchange

In October 2017, cryptocurrency exchange Luno — which currently offers trading services in Bitcoin, Bitcoin Cash, Ethereum and Litecoin — raised more than $1.3 billion in a Series C funding round. At the time, the investment was the biggest cryptocurrency funding round ever.

A $530 million cryptocurrency wallet

In August 2017, cryptocurrency wallet startup Xapo — which had just been acquired by Fortress Investment Group — raised $530 million in a seed funding round led by Pantera Capital, a New York-based investment firm specializing in cryptocurrencies and blockchain technology.

A $680 million cryptocurrency brokerage

In March 2018, brokerage firm Cryptosolutio — which is also based in Brazil — announced that it had raised $680 million in funding. The funding came from a group of investors that included Brazilian billionaire Eike Batista and Chinese mining equipment manufacturer Bitmain.

A $700 million cryptocurrency fund

In May 2018, a new fund was announced by ETF.com, the world’s largest provider of cryptocurrency-based funds. Dubbed the Global Fund, the fund was created to make it easier for institutional investors to gain access to the cryptocurrency market. With $700 million in assets under management, the Global Fund is the largest ETF in the world dedicated to cryptocurrencies.

An $800 million cryptocurrency media company

In July 2018, cryptocurrency media company CryptoFloor announced that it had reached a value of $800 million following its successful token sale. The company also said it would create a new cryptocurrency index fund.

A $800 million cryptocurrency bank

In August 2018, BK DTVM, a digital bank based in Brazil, announced that it had raised $800 million in a private equity round. The round was led by U.S. venture capital company Fidelity National Financial.

Summing up

Although it might not seem like it at first glance, Brazil has a long history of supporting cryptocurrencies. There are a growing number of successful cryptocurrency companies based in the country, and the government is taking steps to open a regulated marketplace for cryptocurrency trading. As these companies continue to grow and succeed, their value will only continue to increase, putting Brazil’s cryptocurrency industry on the map as a global leader in the space.

For more information, visit the company pages linked to above or the following articles:

 
 
  • Brazilian Bitcoin mining company BeloBTC raises $30 million in Series C funding
  • Brazil’s largest bank Bradesco becomes first financial institution in South America to pilot cryptocurrency banking service
  • ProtonMail, a Swiss cybersecurity firm, launches protonVPN with $300 million in funding
  • Coinbase purchased a blockchain startup in July 2018
  • Report recommends regulating cryptocurrency exchanges
  • India plans to tax cryptocurrency trading and exchange gain
  • Russian financial regulator bans ICOs and cryptocurrency trading
  • Central Bank of Brazil creates working group to create cryptocurrency regulations
  • Top 5 cryptocurrencies by market cap
  • Summing up

The future of cryptocurrencies in Brazil seems bright. With so many successful companies thriving in the country and more coming soon, the South American nation could soon become a leading global cryptocurrency superpower. Now, all they need is a better national soccer team.

The future of cryptocurrencies in Brazil seems bright. With so many successful companies thriving in the country and more coming soon, the South American nation could soon become a leading global cryptocurrency superpower. Now, all they need is a better national soccer team.

A $320 million token sale

In January 2018, Brazilian venture capital firm Forte Capital announced that it had raised $320 million for its Forteeth token sale. Forte Capital is partnered with the Brazil-based blockchain research and consulting firm Altchev. The two companies teamed up to issue what they called the first global token sale for Latin America and the Caribbean.

A $1.3 billion cryptocurrency exchange

In October 2017, cryptocurrency exchange Luno — which currently offers trading services in Bitcoin, Bitcoin Cash, Ethereum and Litecoin — raised more than $1.3 billion in a Series C funding round. At the time, the investment was the biggest cryptocurrency funding round ever.

A $530 million cryptocurrency wallet

In August 2017, cryptocurrency wallet startup Xapo — which had just been acquired by Fortress Investment Group — raised $530 million in a seed funding round led by Pantera Capital, a New York-based investment firm specializing in cryptocurrencies and blockchain technology.

A $680 million cryptocurrency brokerage

In March 2018, brokerage firm Cryptosolutio — which is also based in Brazil — announced that it had raised $680 million in funding. The funding came from a group of investors that included Brazilian billionaire Eike Batista and Chinese mining equipment manufacturer Bitmain.

A $700 million cryptocurrency fund

In May 2018, a new fund was announced by ETF.com, the world’s largest provider of cryptocurrency-based funds. Dubbed the Global Fund, the fund was created to make it easier for institutional investors to gain access to the cryptocurrency market. With $700 million in assets under management, the Global Fund is the largest ETF in the world dedicated to cryptocurrencies.

An $800 million cryptocurrency media company

In July 2018, cryptocurrency media company CryptoFloor announced that it had reached a value of $800 million following its successful token sale. The company also said it would create a new cryptocurrency index fund.

Summing up

Although it might not seem like it at first glance, Brazil has a long history of supporting cryptocurrencies. There are a growing number of successful cryptocurrency companies based in the country, and the government is taking steps to open a regulated marketplace for cryptocurrency trading. As these companies continue to grow and succeed, their value will only continue to increase, putting Brazil’s cryptocurrency industry on the map as a global leader in the space.

For more information, visit the company pages linked to above or the following articles:

  • Brazilian Bitcoin mining company BeloBTC raises $30 million in Series C funding
  • Brazil’s largest bank Bradesco becomes first financial institution in South America to pilot cryptocurrency banking service
  • ProtonMail, a Swiss cybersecurity firm, launches protonVPN with $300 million in funding
  • Coinbase purchased a blockchain startup in July 2018
  • Report recommends regulating cryptocurrency exchanges
  • India plans to tax cryptocurrency trading and exchange gain
  • Russian financial regulator bans ICOs and cryptocurrency trading
  • Central Bank of Brazil creates working group to create cryptocurrency regulations
  • Top 5 cryptocurrencies by market cap
  • Summing up

Although it might not seem like it at first glance, Brazil has a long history of supporting cryptocurrencies. There are a growing number of successful cryptocurrency companies based in the country, and the government is taking steps to open a regulated marketplace for cryptocurrency trading. As these companies continue to grow and succeed, their value will only continue to increase, putting Brazil’s cryptocurrency industry on the map as a global leader in the space.

For more information, visit the company pages linked to above or the following articles:

  • Brazilian Bitcoin mining company BeloBTC raises $30 million in Series C funding
  • Brazil’s largest bank Brades
 

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