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

Bitget, a Singapore-based crypto derivatives exchange, has launched operations in Brazil.

For now, the platform has integrated with the Brazilian government’s payment system, Pix, and has started to allow crypto purchases with Brazilian reals. Beginning on Nov. 30, users will also be able to execute withdrawals in Brazilian reals.

Gracy Chen, Bitget's managing director, said in a statement the company plans to be among the largest five exchanges in the Brazilian market by the end of the first half of 2023.

Bitget already had a presence in Latin America, with operations in Argentina, Colombia, Mexico and Venezuela. In June, the exchange announced that it planned to double its global workforce to reach 1,000 employees by the end of 2022.

Bybit, MetaMask and Trust Wallet were among the global crypto players that have recently integrated with Pix to allow crypto purchases with Brazilian reals.

This article was translated by Andrés Engler, and edited by CoinDesk. The original Portuguese can be found here.