Dubai-Based Bybit Makes Move Into Latin America With Launch of Brazil Operation

Brazil is seen as a big prize, with a number of crypto exchanges eyeing the country in 2022.

AccessTimeIconApr 28, 2022 at 4:32 p.m. UTC
Updated May 11, 2023 at 5:35 p.m. UTC

This article is part of CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil's leading financial news publications. Follow CoinDesk Brasil on Twitter.

Dubai-based cryptocurrency exchange Bybit is launching services and a local team in Brazil.

  • Bybit's move into Brazil opens its “expansion across Latin America,” according to a company statement Thursday.
  • According to Bybit, Brazilian users will be able to acquire crypto using Brazilian reals through transfers via PIX, a real-time retail payment system launched by the Brazilian Central Bank. In addition to spot crypto trading, the company will offer earning products and a non-fungible token (NFT) marketplace.
  • “Brazilians highly value their experience with the services they use. When it comes to investments, we know that we will only be successful by offering world class liquidity and reliability that users expect of Bybit,” the company said.
  • Of the crypto transactions bill approved by Brazil’s Senate on Tuesday, Bybit called it “a promising step forward in regulatory clarity.”
  • Global crypto exchanges consider Brazil as a big prize in 2022, with Coinbase (COIN) in talks to acquire Mercado Bitcoin – the country’s largest crypto exchange – and Binance looking into acquiring banks and payment processors.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Andrés Engler is a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.