US Digital Asset Prime Broker FalconX Expands Into Brazil... "Surging Latin Institutional Demand"
Summary
- FalconX has entered the Brazilian market, reporting soaring demand for digital asset services from institutional investors in Latin America.
- FalconX announced it has established a foundation for trading, credit, and custody services by securing BTG Pactual and Mercado Bitcoin as initial partners.
- The Brazilian government is conducting a Digital Real pilot and working on improving cryptocurrency regulations.
A report stated that FalconX, a digital asset prime broker, has entered the Brazilian market, officially accelerating its business expansion in Latin America.
According to Bloomberg on the 29th, FalconX began its services in Brazil and has secured BTG Pactual and Mercado Bitcoin as initial partners. This partnership is expected to enable Brazilian institutions to provide platforms for trading, credit, and custody services for digital assets.
Founded in 2018, FalconX is a US-based prime broker that operates trading, lending, and custodial services as its main businesses. As of 2022, the company's valuation was $8 billion, with major investors including Tiger Global, GIC, and B Capital.
FalconX noted, “Latin America is among the fastest-growing regions for digital asset adoption,” adding, “As the regulatory framework steadily takes shape, demand driven by the real economy is also a contributing factor.”
Meanwhile, Brazil is conducting a Digital Real experiment led by its Central Bank and is making ongoing efforts to integrate cryptocurrency regulations into existing financial frameworks.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
