Mercado Bitcoin Portugal

What Mercado Bitcoin Portugal does

Mercado Bitcoin Portugal, legally constituted as Smart Token Lda., is a Portuguese-headquartered cryptocurrency brokerage incorporated in 2020 and domiciled in Lisbon. It operates a self-serve retail platform enabling individuals and businesses in Portugal to buy, sell, send, receive, and invest in over 450 cryptocurrencies, supplemented by a tokenized fixed-income product called Aforro Digital. The platform is accessible via web interface and native iOS/Android applications, with account opening completing in under five minutes and support delivered in Portuguese, English, and Spanish across in-person, phone, email, and chat channels.

The company's technology stack centers on institutional-grade custody infrastructure, combining hot wallets for operational transactions with cold wallets for secure storage, MPC protocols for decentralized key management, HSMs for cryptographic key protection, and multi-layer encryption with restricted access controls. Payment integrations include MB WAY for Portuguese customers and PIX (via UnblockPay) for Brazilian users. The platform is the first cryptocurrency broker registered with Banco de Portugal and is currently undergoing MiCA authorization, which has temporarily suspended new account openings. Other notable attributes include external audit by KPMG, parent-group affiliation with Brazilian crypto conglomerate Grupo 2TM (4.2M+ group customers), and stated trading volume exceeding €50 billion across the platform.

Mercado Bitcoin Portugal generates revenue through three primary streams: transaction spreads embedded in quoted buy/sell prices, recurring custody fees calculated on assets and holding duration, and fees on tokenized fixed-income products issued via Aforro Digital. The go-to-market motion is product-led growth, targeting retail investors and businesses in Portugal with localized compliance, language, and payment integrations. Geographic restrictions exclude users from the United States, Russia, North Korea, the United Kingdom, and sanctioned jurisdictions.

Name

Mercado Bitcoin Portugal

Legal name

Smart Token Lda.

Website

https://mercadobitcoin.pt

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

Mercado Bitcoin Portugal (Smart Token Lda.) is a Lisbon-based cryptocurrency brokerage, the first registered with Banco de Portugal and currently undergoing MiCA authorization. It serves Portuguese retail investors and businesses with a self-serve platform offering 450+ cryptocurrencies, tokenized fixed-income products, and institutional-grade custody.

Ownership category

akta.pro rank

Product category

Cryptocurrency Brokerage

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Crypto Merchant Acquirers & PSPs (Payment Service Providers) (FSADAIAB), Tokenized Bank Deposit & Commercial Bank Money Issuers (FSADADAB)

Keywords

• Cryptocurrency brokerage
• Digital asset trading
• Tokenized fixed income
• Crypto custody services
• Virtual asset exchange

Headquarters

HQ city

Lisbon

HQ country

Portugal

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Transaction Spread/Markup: The company applies a spread incorporated into prices shown on the platform, corresponding to an addition to the sell price and a reduction from the buy price relative to values obtained from liquidity providers. This spread remunerates operational costs and intermediary risk.
2. Custody Fees: Custody commissions on cryptocurrencies held on behalf of clients, calculated based on the value of assets under custody converted to euros and the duration of custody.
3. Fixed Income Products (Aforro Digital): Revenue from tokenized fixed income products (Aforro Digital) representing debt securities and receivables, with investment windows published weekly.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels10 records

Core offering

Mercado Bitcoin Portugal is a Banco de Portugal-registered cryptocurrency brokerage that enables Portuguese individuals and businesses to buy, sell, send, receive, and invest in over 450 cryptocurrencies through a fully digital self-serve platform. The offering is complemented by secure custody services, SEPA/MB WAY deposits, PIX withdrawals to Brazil, and the Aforro Digital tokenized fixed-income product with returns up to 5% in euros.

Product overview

Mercado Bitcoin Portugal operates as a cryptocurrency brokerage platform registered with the Bank of Portugal and undergoing MiCA authorization. The core offering consists of the Mercado Bitcoin Platform for trading over 450 cryptocurrencies, supplemented by Aforro Digital (Fixed Digital Income) for fixed-income tokenized investments with blockchain registration, cryptocurrency custody services with hot/cold wallet infrastructure, and payment integrations including MB WAY for Portuguese users and PIX for Brazilian users withdrawing in BRL.

Differentiator

Problem solved

Functional benefit

Brands

• Aforro Digital: Digital savings product offering fixed income investments (renda fixa) with returns up to 22% per year in reais or 5% in euros. Uses tokenized real assets representing debt securities and receivables from companies and state entities, registered on blockchain.

Products and services

• Mercado Bitcoin Trading Platform Core cryptocurrency brokerage platform enabling users in Portugal to buy, sell, send, receive, and invest in Bitcoin and over 450 cryptocurrencies, with real-time EUR pricing and SEPA bank transfers.
• Aforro Digital (Fixed Digital Income) Blockchain-registered fixed-income investment product offering tokenized debt securities and receivables with returns up to 5% in euros or 22% in reais, minimum 50 euros, terms from 7 days to 18 months, and weekly investment windows.
• Cryptocurrency Custody Service Secure custody service combining hot wallets for operations, cold wallets for storage, Multi-Party Computation (MPC) cryptographic key management, and Hardware Security Modules (HSMs) to protect client digital assets.
• PIX Withdrawal Service Brazilian Real (BRL) withdrawal service that converts cryptocurrency to USDC and processes payment via the PIX instant payment system through the UnblockPay third-party executor for users with Brazilian bank accounts.
• MB WAY Payment Integration Payment integration with MB WAY, the Portuguese mobile payment service, allowing users to fund cryptocurrency purchases directly from their verified bank account linked to their mobile number.

Quantifiable outcome

• Returns up to 5% per year in euros or 22% in reais for fixed income products
• +2 more outcomes

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and standard.

• KPMGcoreOthersIndependent auditor providing external audit services. KPMG, one of the world's leading accounting firms, audits Mercado Bitcoin Portugal's operations.
• CloudflarecoreTechnology or IntegrationCDN and cybersecurity provider used for website protection, bot detection, and traffic management. Cookie policy indicates Cloudflare services for cloud-based security infrastructure.
• IntercomcoreTechnology or IntegrationCustomer messaging platform used for visitor identification and Messenger functionality. Cookie policy indicates Intercom cookies for customer communication.
• Zoho (Zoho Corporation)coreTechnology or IntegrationCustomer service and support platform (Zoho SalesIQ) used for website visitor engagement and CSRF protection. Also used for form security and customer interaction tracking.
• Google AnalyticsstandardTechnology or IntegrationWeb analytics service used for tracking website performance, session state management, and user behavior analysis. Cookie policy indicates Google Analytics (_ga, _gid, _gat cookies).
• UnblockPaycoreTechnology or IntegrationThird-party service provider for PIX transfers to Brazil. Converts cryptocurrency to BRL and executes PIX transfers to client bank accounts in Brazil.
• Banco de PortugalcoreOthersPortuguese central bank and financial regulator. Mercado Bitcoin is registered with Banco de Portugal as a virtual asset service provider and is undergoing MiCA authorization process.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Interactive Brokers: Established global multi-asset broker offering crypto trading in select jurisdictions; broader portfolio player with institutional-grade custody infrastructure competing for the same professional and corporate accounts.
• Revolut: Major European neobank with embedded crypto trading for retail customers; overlapping capabilities but as part of a broader multi-product financial app rather than a specialized broker.

Direct peers

• eToro: Social trading platform with significant EU retail base offering crypto alongside stocks and ETFs; competes for Iberian retail investors.
• Uphold: Multi-asset retail platform offering trading across crypto, fiat, and metals; comparable multi-currency wallet and cross-border use cases.
• Coinbase: Largest US-listed crypto exchange expanding aggressively in Europe with MiCA licensing through Coinbase Europe Limited; directly comparable retail brokerage and custody product.
• Bitstamp: One of the longest-standing EU-licensed crypto exchanges (Luxembourg-anchored), now under Robinhood ownership; competes in regulated EUR brokerage and institutional custody.
• Crypto.com: Global crypto exchange and app with MiCA-focused European entity; comparable retail trading, custody, and tokenized yield product set.
• Bitpanda: Austrian-headquartered, MiCA-licensed European retail broker offering 600+ digital assets plus tokenized stocks and ETFs; competes head-on with Mercado Bitcoin Portugal for regulated European retail crypto flow.
• Kraken: Major global crypto exchange with established EU presence (Kraken Ireland, MiCA-ready); competes directly in regulated European crypto brokerage and custody.
• Binance: World's largest crypto exchange, pursuing MiCA authorization across multiple EU jurisdictions; competes for the same Portuguese and broader European retail customer base with significantly deeper liquidity.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mb_portugal
• YouTubeyoutube.com/@mercadobitcoinportugal
• Facebookfacebook.com/mercadobitcoinportugal
• LinkedInlinkedin.com/company/mercadobitcoinpt
• Instagraminstagram.com/mercadobitcoin.pt

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mercado Bitcoin Portugal