Coinbase Nears Deal to Buy Brazil Crypto Unicorn 2TM, Media Says
- Acquisition of 2TM expected to be concluded by end of April
- Talks are part of Coinbase’s push to seek leadership in LatAm
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U.S. cryptocurrency exchange Coinbase Global Inc is set to close the acquisition of 2TM, a Brazilian holding that controls Latin America’s largest crypto brokerage Mercado Bitcoin, by the end of April, local newspaper O Estado de S.Paulo reported, without revealing how it obtained the information.
The talks, which began last year, are part of Coinbase’s push to broaden operations in an increasingly competitive market that has also caught the eye of its major rival Binance Holdings Ltd. Coinbase and 2TM did not immediately comment on the report.