Mercado Bitcoin, a leading cryptocurrency exchange in São Paulo, is pivoting from its traditional trading model to become a comprehensive financial hub. The company aims to integrate blockchain with traditional finance, reducing its trading revenue share from 60% to below 30% by expanding into tokenized investments, payments, and custody services. Daniel Cunha, head of corporate development, highlighted the goal of transforming the platform into a financial management app for Brazilians, leveraging blockchain technology seamlessly.
By the end of the year, Mercado Bitcoin plans to issue over 3 billion reais ($563 million) in tokenized credit. Currently, 20% of the assets under its custody are tokenized real-world assets, marking a significant shift in its business strategy.
Mercado Bitcoin to Tokenize $563M in Credit, Shifts to Financial Hub
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