Turkish Crypto Firm Bitci Eyes Expansion Into Brazil, Spain: Report

The company aims to open a trading platform in Brazil next month with a Spanish one planned in March.

Jan 31, 2022 at 1:17 p.m. UTC
Updated Jan 31, 2022 at 4:07 p.m. UTC

Jamie Crawley is a CoinDesk news reporter based in London.

Turkish crypto firm Bitci is eyeing international expansion with Brazil and Spain being the first countries in line, CEO Onur Altan Tan said in an interview.

  • The company is aiming to open a trading platform in Brazil next month with plans to open a Spanish one in March, Reuters reported on Monday.
  • Bitci operates a crypto exchange and a mining facility and also offers fan tokens in partnership with major sports brands. Last year, the firm launched fan tokens for the national soccer teams of both Brazil and Spain to go along with numerous club offerings, including the English Premier League's Wolves and Scottish Premiership team Rangers.
  • "We are opening a crypto exchange in Brazil because we have valuable assets there. We have released fan tokens of Brazil's national team and we have agreed with six other clubs," Altan Tan said.
  • Brazil has been undergoing something of a crypto boom in recent months owing to inflation and devaluation of the Brazilian real.
  • Last year, Bitci's native Turkey banned the use of crypto for payments. Nonetheless spiraling inflation and a nosedive in the value of the lira against the dollar has been healthy for the popularity of digital currencies.

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Jamie Crawley is a CoinDesk news reporter based in London.

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Jamie Crawley is a CoinDesk news reporter based in London.

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