On the market for a few years, the exchange Biscoint was sold to Bitpreço, as announced this Thursday (21). In this way, the cousin group becomes a partner in a new cryptocurrency exchange.
In 2021 Grupo Primo, a company with partners Bruno Perini and Thiago Nigro, acquired part of the brokerage Biscoint. The announcement caught the attention of the Brazilian cryptocurrency market as the company has some of the biggest financial influencers in the country.
The Biscoint brokerage has a team of 25 employees and needs to migrate all its technology and systems to the Bitpreço platform. The latter presents itself as a marketplace for buying Bitcoin at the best price, providing users with an interface to buy in just a few steps.
Primo Group becomes Bitpreço partner
Information released with the live coins point out that the acquisition of Biscoint, a brokerage founded in 2016, is now part of BitPreço. The purchase of the exchange was made entirely through the cryptocurrency marketplace, the first in its history and in the midst of the so-called crypto winter.
The intention is to integrate the teams over time and launch new products in the cryptocurrency market, an operation that even includes the participation of Grupo Primo, which remains a partner at BitPreço.
The acquisition is considered a step to consolidate the Brazilian cryptocurrency market and unites two major platforms. In the coming years, the new team plans to even launch a CryptoBank in Brazil.
According to BitPreço CEO Ney Pimenta, the aim is to triple the operation, with an emphasis on increasing its institutional customer base.
“We expect to triple in size over the next three years, supported by organic growth, potential new acquisitions and new products. Today, 90% of our users are B2C, but we are also expanding our business in B2B through the new Crypto as a Service product, which aims to facilitate the integration of cryptocurrencies into applications of other companies. Soon we will also have the launch of Cryptobank.”
Data from the Crypto Market indicates that in the past 24 hours, 15% of all bitcoins traded in Brazil were made by BitPreço, the second largest operation in the period.
BitPreço Should Start Releasing Lightning Network Payments
One of Biscoint’s strengths in the market was that it was the first exchange in the country to release the Lightning Network as a means of Bitcoin transactions for customers. This technology should also be integrated by BitPreço soon.
During the transition phase, brands continue to function normally and should gradually integrate. BitPreço will retain all of Bitcoint’s employees, as well as its two main products.
In fact, the brokerage’s two founders, Jonathas Carrijo (CEO) and Thiago Borges (CTO), will continue as advisors in the new product and technology operation.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
