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Turkish blockchain firm launches local crypto exchanges in Brazil and Spain



Bitci initially wants to expand to Brazil. This is also the first time a Turkish crypto exchange has done so.


Turkish blockchain provider Bitci is trying to establish local crypto exchanges in Brazil and Spain to attract new crypto investors there.


A Bitci spokesperson told Cointelegraph that Bitci plans to open new crypto exchanges in countries where the company has large deals and assets, as reported by Reuters . First, Bitci wants to expand to Brazil. This is also the first time a Turkish crypto exchange has ever done so.


Bitci CEO Onur Altan Tan said in an interview that the Turkish blockchain provider wants to open its first exchange outside Turkey in February in Brazil. The second international exchange of Bitcoin and Bitci is scheduled to open in Spain in March. With the opening of local crypto exchanges in these countries, Bitci aims to provide a better service to local investors.


Bitci also wants to work more closely with local football clubs through its Brazilian stock exchange. As a blockchain provider, Bitci has helped over 25 football teams launch their fan tokens.


Speaking to Reuters, the Bitci boss said the exchange has valuable assets in Brazil. "We issued fan tokens for the Brazilian national team and struck deals with six other clubs," he added. Exclusive fan token deals with soccer clubs would help Bitci accelerate its growth in Brazil, Tan said.


Bitci has experienced strong growth over the past year, signing partnership deals with several prestigious sports organizations such as the Brazilian and Spanish national football teams and Formula 1 team McLaren Racing.



With the coronavirus pandemic taking a toll on the sports industry, fan tokens have quickly become a trend among sports clubs looking to create new revenue streams. The unclear regulation related to cryptocurrencies in Turkey is one reason for Turkish crypto companies to look for growth opportunities outside the country.

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