The Series B builds off 2TM’s massive $200 million SoftBank-led raise in July, which catapulted the company to a $2.1 billion valuation. 2TM, the parent company of Brazilian cryptocurrency exchange Mercado Bitcoin, has received $50.3 million in fresh financing to expand its operations across Latin America, sending a strong signal that venture capital sees growth potential in the region.  The Series B fundraiser had participation from United States-based funds 10T and Tribal Capital, as well as Brazilian companies Traders Club, Pipo Capital and Endeavor, the company disclosed Tuesday. The funding round further cements 2TM’s status as a crypto unicorn after the company raised $200 million from SoftBank in July. At the time, Mercado Bitcoin was the second Latin American cryptocurrency exchange to eclipse the $1 billion valuation mark. Brazil’s first #Bitcoin exchange, Mercado Bitcoin, just raised $200m from SoftBank! - CoinTelegraph — Bitcoin Archive (@BTC_Archive) July 1, 2021 Mercado Bitcoin now boasts of over 3.2 million customers, which is equivalent to roughly 80% of individual accounts active on the Brazilian stock exchange, the company said. Trade volumes reached $7 billion in the first 10 months of 2021, according to 2TM CEO Roberto Dagnoni. Mercado’s growing user base reflects heightened retail interest in digital asset investing at a time when economies across Latin America are struggling with hyperinflation and other fiscal pressures . In Brazil, Mercado Bitcoin’s home base, regulators have endorsed legislation that would support the continued growth of crypto investing. Leading investment bank BTG Pactual has also launched a new platform to make it easier for users to access cryptocurrencies such as Bitcoin ( BTC ) and Ether ( ETH ). When asked about what other factors are driving crypto adoption in the region, a Mercado Bitcoin spokesperson told Cointelegraph that motivations vary across countries. "For example, in Brazil, the main driver is as [an] alternative investment class," the spokesperson said. "In Mexico, remittances are a significant part of the overall volume drivers. In Argentina, there is a much more intensive adoption of stablecoins to protect from currency fluctuation." Related: Largest cryptocurrency exchange in Latin America to develop renewable energy tokens The cryptocurrency industry is now home to dozens of high-profile unicorns and at least three multi-billion-dollar investment funds. As Cointelegraph reported on Monday, former Citi banker Matt Zhang has launched a $1.5 billion crypto venture fund to back promising plays in the domains of blockchain infrastructure, virtual worlds and programmable money.