2TM, Bitcoin Market holding company, announces first allocation after Softbank – Money Times contribution

Concash is expected to close the first tranche of assets in late August to release tokens to customers starting in September (Image: Concash)

THE 2TM, holding that controls the Bitcoin Market, signed a strategic partnership to allocate approximately R$ 40 million in financing to concash, startup specializing in the purchase of shares excluded from consortiums.

Concash operates in the so-called secondary consortium market, buying active, inactive and canceled shares.

If a shareholder needs funds, he can sell his share to Concash without having to wait to be awarded, for example. If the quota has been excluded, the consortium member will not have to wait until the end of the plan to receive their money back, according to the sector’s legislation.

The financial resources will be fully allocated to the acquisition of these assets in the market and marks the first movement of 2TM after the contribution of BRL 1 billion of Softbank.

With the operation, 2TM will be able to accelerate the offer of tokens backed by shares excluded from the consortium, created by the unit MB Digital Assets (MBDA), responsible for the registration in blockchain and by tokenizing real assets.

In a press release shared with the Crypto Times, Ronaldo Faria, director of MBDA, explains:

This is a product with high potential for profitability and we really like to offer our customers. But it takes an experienced partner to find the best options. Concash solves this issue by acting as a quota originator for MBDA tokenize.

The commercialization of digital assets will be done through the Bitcoin Market platform, as already happens with other digital assets, among them, the precatory tokens and the Vasco Token, which is based on FIFA’s solidarity mechanism.

The partnership is already underway and Concash is expected to close the first tranche of assets at the end of August to release the tokens to customers starting in September.

In early July, 2TM carried out a series B funding of US$ 200 million with Softbank. The operation created the eighth most valuable unicorn in Latin America, with an evaluation of US$2.1 billion.

Currently, the 2TM ecosystem comprises nine companies: Bitcoin Market, mybank, MB Digital Assets, Bitrust, Blockchain Academy, clearbook, MezaPro, for more, in addition to a minority stake in the FIDD.

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