Owner of Brazil’s Largest Crypto Exchange Plans to Launch Quantitative Trading Service

The holding company for Mercado Bitcoin, which is in talks to be acquired by Coinbase, is partnering with local player Giant Steps.

AccessTimeIconApr 14, 2022 at 9:52 p.m. UTC
Updated May 11, 2023 at 7:17 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

This article is part of CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

2TM, the holding company for Mercado Bitcoin, Brazil's largest crypto exchange by market valuation, plans to launch a crypto asset manager focused on quantitative trading, the company confirmed to Brazilian financial media outlet InfoMoney on Thursday.

  • Understanding the Success of Spot Bitcoin ETFs in Brazil
    06:12
    Understanding the Success of Spot Bitcoin ETFs in Brazil
  • Understanding the Success of Spot Bitcoin ETFs in Brazil
    06:12
    Understanding the Success of Spot Bitcoin ETFs in Brazil
  • Hashdex CEO Discusses Brazil's 'Sophisticated' Market for Crypto
    01:15
    Hashdex CEO Discusses Brazil's 'Sophisticated' Market for Crypto
  • Mastercard's Crypto Card Partnership With Binance Is Ending
    05:50
    Mastercard's Crypto Card Partnership With Binance Is Ending
    • 2TM expects to launch the service in partnership with Giant Steps, a Brazilian asset manager with $1.49 billion under management and more than 100,000 investors. Giant Steps would hold a minority stake of the service, 2TM said.
    • According to Giant Steps, although the Brazilian quantitative trading segment has experienced “high growth rates” in recent years, it represents no more than 2% of total fund assets in the South American country.
    • In addition to Mercado Bitcoin, 2TM owns the over-the-counter (OTC) trading firm MezaPro and the equity token platform ClearBook, among other companies.
    • Cryptocurrency exchange Coinbase Global (COIN) is in talks to acquire 2TM, in a transaction that could be closed by the end of April.

    This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese can be found here.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Paulo Alves

    Paulo Alves is a crypto editor at InfoMoney, a leading financial news publication in Brazil.


    Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.