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



Turkish crypto firm Bitci is eyeing international expansion with Brazil and Spain being the first countries in line, Chief Executive 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 operate a crypto exchange, a mining facility, and 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 side 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 real.
  • Last year, Bitci’s native Turkey banned the use of crypto for payments. Nonetheless spiralling 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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