FalconX has expanded into Brazil to meet rising institutional demand for digital assets in Latin America

FalconX has expanded into the Latin American crypto market, starting with Brazil. The expansion occurred through a partnership with companies like BTG Pactual and Mercado Bitcoin, furthering FalconX’s goal to support a rapidly growing digital asset ecosystem across the Latin American region.

The digital asset prime broker FalconX has officially expanded into Latin America, launching operations in Brazil as part of its global growth strategy.

Over the past year, the firm has also expanded into Europe, Asia, and the Middle East, bringing traditional institutions such as banks, hedge funds, and asset managers into its client base.

“We are expanding into those regions because we are seeing very strong demand from traditional institutions while also seeing great volume,” Josh Barkhordar, the head of Americas Sales at FalconX, said. “The trend is not isolated to Latin America, and we think it will continue globally because there is clearly demand that is yet to be met.”

FalconX has entered Brazil

The expansion into the Latin American market is a significant milestone for the U.S.-based firm, and it comes with immediate high-profile partnerships, including BTG Pactual, one of Brazil’s largest investment banks, and Mercado Bitcoin, the crypto arm of e-commerce giant MercadoLibre.

These collaborations will allow local institutions to offer trading, credit, and custody services for digital assets through FalconX’s full-stack prime brokerage platform.

“Latin America is one of the fastest-growing regions for crypto adoption,” Barkhordar said. “The regulatory frameworks that have been put in place in the region along with the forward-thinking institutions and real economic drivers are driving the adoption of digital assets.”

Brazil leads LATAM in institutional crypto growth

The Brazilian government and financial regulators have so far made moves to establish clear digital asset guidelines such as the central bank’s pilot of a digital real and the integration of crypto into financial oversight frameworks.

According to a Chainalysis report, institutional crypto activity in Brazil rose 48% between the last quarter of 2023 and early 2024. This sharp increase has made the country a prime destination for global firms seeking to enter the Latin American market.

FalconX was last valued at $8B following a $150M funding round in 2022, backed by investors including Tiger Global, GIC, and B Capital.

“FalconX’s institutional infrastructure accelerates our ability to deliver seamless crypto solutions at the speed the market demands,” Andre Portilho, the head of Digital Assets at BTG Pactual, said. “Their deep liquidity and global execution capabilities give us a meaningful edge as we continue to lead digital asset adoption across Latin America’s evolving financial landscape.”

Reinaldo Rabelo, the CEO of Mercado Bitcoin, echoed the sentiment, saying, “We admire the work already underway globally and, as a pioneering company operating in Brazil since 2013, Mercado Bitcoin values the presence of players who contribute to a more robust and institutional digital asset ecosystem.”

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