Mercado Bitcoin invests €50 million in Portugal: European expansion continues

Mercado Bitcoin is diving into a strategy that prioritizes Lisbon as its European operational hub. The company has announced the launch of MB One Internacional and a commitment of €50 million to accelerate its expansion in Europe.

Mercado Bitcoin: What Does It Plan to Build in Portugal?

Mercado Bitcoin, Brazil’s leading crypto exchange, describes the new vehicle as a European hub for custody, trading, and compliance. The new service MB One Internacional will offer accounts in both Brazil and Portugal for selected clients, aiming to simplify cross-border access. However, managers speak of a crucial step to integrate payments and financial infrastructures across different jurisdictions.

Additionally, the roll-out will be phased. In the meantime, the priority will be recruiting new staff and legal adjustments to comply with local regulations. Experts emphasize that the centralization of custody will require stringent conditions for client assets and rigorous controls to convince supervisors.

What are the main revenue sources for Mercado Bitcoin?

The company states that spot trading remains the main source of revenue, with approximately 60% of current turnover coming from trading activities. Consequently, the management anticipates that the new entity will accelerate the development of new products and strengthen the management of custodial assets and payment infrastructure.

• MB One Internacional will centralize onboarding and compliance workflows for European clients.
• The commitment of €50 million is allocated to infrastructure, hiring, and regulatory compliance.

Additionally, the plan includes work on tokenized fixed income and international payments, which the company considers strategic complements to trading and asset custody. Therefore, the tokenized fixed income product could open new revenue streams and diversification opportunities.

Licenses, MiCA, and Regulators’ Reaction

The group states that it is awaiting a MiCA license and indicates ongoing dialogue with national authorities. Indeed, the EU intends for MiCA to provide legal certainty for crypto-assets and protection for consumers and investors. However, observers point out that the alignment of rules in Portugal should streamline authorizations.

Additionally, the Bank of Portugal and the CMVM will assess license applications and AML controls. Overall, the market context shows significant retail interest. According to a BlackRock report, 43% of Portuguese investors hold crypto, a factor that requires clear supervision and protective measures.

In conclusion, the dossier on Mercato Bitcoin confirms an ambitious plan aiming to integrate trading, custody, and payments at a European level. Furthermore, the practical implementation will determine how the expansion of Mercado Bitcoin in Portugal and generally in Europe will evolve in the coming months.