Turkish Crypto Company Bitci Sets Sights on Brazil, Spain as Potential Markets

Bitci, a Turkish crypto exchange company, hopes to start a global expansion. Chief Executive Onur Altan Tan said in an interview that Brazil and Spain are the first markets that the company has its eyes on.

According to a Reuters report shared on Monday, January 31, the plan is to open a cryptocurrency trading platform in Brazil in February. A division in Spain would be the next going, with launch plans set for March 2022.

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Bitci was founded in Turkey in 2018. Aside from crypto exchange services, Bitci also operates a mining facility. The company’s standout perks are fan tokens created in partnership with major sports brands. In 2021, Bitci launched fan tokens for Brazil and Spain’s national soccer teams.

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.

Interest in crypto has skyrocketed in Brazil in recent months due to the inflation and devaluation of the Brazilian real.

Last year, Turkey’s strict anti-crypto policies led to banning digital currencies for payments. Despite this, interest in crypto remains high due to high inflation and the value of the Turkish lira nosediving.