Bitget Exchange Has Started Operations In Brazil

InfoMoney reported that Brazilian operations for Bitget, a Singapore-based exchange for cryptocurrency derivatives, have begun.

For the time being, the site has begun to permit cryptocurrency purchases using Brazilian reals and is connected with the Pix payment system used by the Brazilian government. Users will also be able to initiate withdrawals in Brazilian reals starting on November 30.

Because Brazil’s Securities and Exchange Commission (CVM) requires additional permits for certain services, the exchange will not provide derivatives products there.

By the end of the first half of 2023, according to Bitget’s managing director Gracy Chen, the firm hopes to rank among the top five exchanges in the Brazilian market.

According to InfoMoney, Bitget operates in Argentina, Colombia, Mexico, and Venezuela. According to the company, there are more than 2 million users across 50 nations. Despite the choppy market, the exchange intends to increase its staff to 1,000 by the end of the year.

As Coincu reported, the exchange has announced a partnership with Lionel Messi, one of the world’s greatest footballers.

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