Turkish blockchain technology company Bitci aims to open a cryptocurrency trading platform in Brazil in February. The launch is part of an international expansion of the company that will also have a branch in Spain.
Founded in 2018 in the tourist city of Bodrum in southwest Turkey, Bitci operates a cryptocurrency exchange, mining facility and blockchain network linked to its exchange and payment platform.
According to the brand’s chief executive, Onur Altan Tan, Bitci also offers fan tokens, a type of cryptocurrency adopted by some football clubs, as the coronavirus hit their revenues. This is the company’s focus in Brazil.
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“We are opening a cryptocurrency exchange in Brazil because we have valuable assets there. We released collectibles from the Brazilian team and we already have an agreement with six other clubs,” he said. Bitci has already launched 25 fan collections for football clubs and the goal is to have more than 50 tokens by the end of the year.
Football clubs see these cryptographic assets as ways to generate new revenue and keep fans engaged. Token owners can vote on minor club decisions, such as songs played after goals scored, for example.
Brazil’s bitcoin market is one of the largest cryptocurrency exchanges in Latin America, with over 3 million users. The company expects to grow along with the expansion of the market in the country. Tan said that after Brazil and Spain, Bitci plans to open cryptocurrency exchanges in some Central Asian countries, India and Russia later this year.
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