FalconX Partners BTG Pactual, Mercado Bitcoin in Brazil Entry

- FalconX expands into Brazil, citing rising institutional crypto demand across Latin America. - Strategic partnerships with BTG Pactual and Mercado Bitcoin to enhance regional market access. According to an August 5, 2024, press release, FalconX, a U.S.-based institutional digital asset prime broker, has officially launched its operations in Brazil to meet the surging demand for institutional crypto services across Latin America. To facilitate this strategic expansion, the company has partnered with Brazil’s leading financial entities, BTG Pactual and Mercado Bitcoin, a move that aligns FalconX with the country’s rapid adoption of digital assets. The release noted that the firm will provide institutional clients in Latin America with access to its advanced suite of prime brokerage services, including optimized trading, credit facilities, and a secure infrastructure for crypto custody. In the August 5 announcement, Andre Portilho, Head of Digital Assets at BTG Pactual, stated that FalconX’s institutional-grade infrastructure empowers his firm to deliver "seamless crypto solutions at the speed the market demands," citing its "deep liquidity and global execution capabilities" as critical advantages. Similarly, Reinaldo Rabelo, CEO of Mercado Bitcoin, said in the release that the partnership helps promote a "more robust and institutional digital asset ecosystem." The expansion comes as Latin America emerges as a hub for global crypto adoption, a trend driven by the region's progressive regulatory framework, tech-driven financial ecosystem, and economic factors that increase interest in digital assets. In the announcement, Josh Barkhordar, Head of Americas Sales at FalconX, emphasized the region's strategic importance, calling Latin America "one of the fastest-growing areas for crypto adoption." The move into Brazil is part of FalconX's broader global expansion efforts, which also include growth initiatives in the Asia-Pacific and EMEA regions. This expansion positions FalconX to capitalize on Brazil’s growing crypto market while fostering a stronger institutional presence within the region.