Mercado Bitcoin Shifts Focus to Financial Hub with Invisible Blockchain
Mercado Bitcoin, originally a cryptocurrency exchange, is evolving into a financial hub integrating blockchain with traditional finance in Brazil.
- The company aims to become a "super app" for managing finances, focusing on digital fixed income and remittances.
- The concept of "invisible blockchain" is central to their strategy, simplifying user experience by avoiding blockchain jargon.
- MB's flagship products include tokenized private credit, targeting an underserved market in Brazil.
- Despite diversifying, crypto trading remains a significant revenue source, though its share has decreased from 95% to 60%.
- MB plans to reduce trading revenue to below 30% as it expands geographically, including operations in Portugal and institutional channels in the U.S.
- The company anticipates issuing over 3 billion reais ($563 million) in tokenized credit by year-end, with 20% of assets under custody now being tokenized real-world assets.
This shift aligns with broader trends among fintechs like Revolut and Paytm, which are also developing comprehensive financial service apps.