Turkish crypto firm Bitci is eyeing international expansion, with Brazil and Spain being the first countries to come online, CEO Onur Altan Tan said in an interview.
- The company aims to open a trading platform in Brazil next month and plans to open one in Spain in March, Reuters reported on Monday.
- Bitci operates a crypto exchange, mining facility, and offers tokens for fans in partnership with major sports brands. Last year, the company launched tokens for fans of the Brazilian and Spanish national soccer teams to accompany numerous club offerings, including Wolves of the English Premier League and Rangers of the Scottish Premiership.
- “We are opening a cryptocurrency exchange in Brazil because we have valuable assets there. We have launched Brazil national team fan tokens and are in agreement with six other clubs,” Altan Tan said.
- Brazil has been experiencing something of a crypto boom in recent months due to inflation and the devaluation of the real.
- Last year, Bitci's native Turkey banned the use of cryptocurrencies for payments. However, the spiraling inflation and falling value of the lira against the dollar have been beneficial to the popularity of digital currencies.
Read More: Turkish President Erdogan To Send Crypto Law To Parliament: Report