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In an attempt to become worldwide, a Turkish blockchain startup has opened regional crypto markets

  • Brazil is Bitci's first foreign visit, which is also a first for a Turkish crypto exchange
  • In an attempt to become worldwide, a Turkish blockchain startup has opened regional crypto markets to buy cryptocurrency
  • Bitci, a Turkish blockchain company, is looking to open local crypto exchanges in Brazil and Spain in order to attract locals investing in cryptocurrency

According to Reuters, a Bitci spokeswoman informed Cointelegraph that the business plans to create new crypto exchanges in regions where it has significant agreements and assets. Brazil is Bitci's first foreign visit, as well as a first for Turkish crypto exchanges in general. In an interview, Bitci CEO Onur Altan Tan said that the Turkish blockchain company plans to launch its first exchange outside of Turkey in Brazil in February. In March, Spain will host the world's second Bitcoin exchange. Bitci intends to give better service to local investors by launching local crypto exchanges in mentioned nations, according to a spokeswoman.

Bitci intends to improve its relationship with local soccer teams, beginning with its Brazilian exchange. Bitci assisted over 25 soccer teams in launching their fan tokens as a blockchain supplier.

According to Bitci's CEO, the exchange has considerable assets in Brazil, as reported by Reuters. "We've distributed Brazilian national team fan tokens, and we've reached agreements with six additional clubs," he continued. Exclusive fan token arrangements with soccer clubs, according to Tan, would help Bitci kickstart its expansion in Brazil.

Bitci has experienced rapid expansion in the previous year, securing partnerships with a number of well-known sports organisations, including the Brazilian and Spanish national soccer teams, as well as Formula One club McLaren Racing.

As the sports industry's earnings have suffered as a result of the coronavirus outbreak, fan tokens have quickly become a popular way for teams to establish new revenue streams and trade crypto. Uncertainty over Turkey's legal environment for cryptocurrencies may also be considered as a major motivator for Turkish crypto firms to explore for development prospects elsewhere in the world.

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