Acura Capital, a major investment firm in Brazil with $1.3 billion in assets under management, has entered the Latin American cryptocurrency market by acquiring a 10% stake in Patex for $10 million, valuing the company at $100 million.

This move highlights the growing institutional interest in the crypto market and positions Patex as a promising player in providing technical solutions, expertise, consultation, and bidding venues related to launching, managing and trading Central Bank Digital Currencies (CBDCs) in the Latin American market.

Patex is led by a team of experienced cryptocurrency experts, including CEO Ricardo Da Ros, formerly the Head of Brazil at Binance and Crypto.com.