Tether to Invest $20 Million in Brazil Digital-Asset Platform Mercado Bitcoin

Tether, the issuer of the world’s largest stablecoin, USDT, will invest $20 million in Brazilian digital-asset platform Mercado Bitcoin.

Wu Blockchain reported on July 7 that Tether announced the investment as part of Mercado Bitcoin’s strategic growth funding round.

Mercado Bitcoin is a regulated on-chain financial services platform in Brazil with about 4.5 million users. It has issued more than 2 billion reais, or about $370 million, in tokenized assets to date and holds more than 10 financial licenses across Brazil and Europe.

The funding will be used to expand payment services, tokenized investment products, lending and on-chain capital-markets operations, as well as support the company’s overseas expansion.