- Coinbase partners with Brazilian investment influencer Charles Wicz to expand in Brazil.
- Mercado Bitcoin remains the largest exchange in Brazil, with over 4 million users.
- Cryptocurrency adoption in Latin America is growing, particularly in Brazil and Argentina.
Coinbase, one of the world’s largest cryptocurrency exchanges, is now focusing on Brazilian investors.
Just recently, the company partnered with well-known Brazilian investment YouTuber Charles Wicz to become a brand ambassador for Coinbase in the country. Wicz is one of the biggest investment influencers in the region, with millions of subscribers across several social media platforms.
Tether’s partnership with Charles Wicz marks a significant milestone, leveraging his substantial influence in the investment community.
While cryptocurrency adoption is skyrocketing in South American nations, particularly Argentina and Brazil—breaking into the Brazilian market is a tad more difficult for companies like Coinbase, once the nation already has its own major player in the DEX market.
Today, “Mercado Bitcoin”, Portuguese for “Bitcoin Market”, is the nation’s largest exchange. The company was founded in 2013 and became the first ever to offer Bitcoin transactions in Latin America, and the first to offer crypto withdrawals in Brazil.
Mercado Bitcoin today has over 4 million Brazilian users, making it the largest exchange in the region. Worldwide companies like Binance and Coinbase are also in the mix, but still behind the Brazilian-native firm.
In recent times, companies have been turning their eyes towards Latin America due to the massive growth rate of cryptocurrency adoption and mainstream likeness towards digital assets. Brazil saw a massive 24% adoption growth in 2024 after harsh economic conditions led the population to protect their investments in the form of BTC or USDT.
Meanwhile, its neighboring country, Argentina, has recently become the fastest-growing cryptocurrency hub in the region. The story is similar, but as Argentineans deal with one of the harshest inflation rates and fastest-crumbling fiat currencies in the world, the majority of the population has also opted to buy and trade in digital assets.
