Singapore-based crypto exchange Bitget has started operating in Brazil, financial publication InfoMoney reported.
Bitget will start enabling deposits in Brazilian reais today, InfoMoney said. The exchange will accept deposits through Brazil’s popular public instant payment system, Pix. It plans to start offering withdrawals in Brazil on Nov. 30.
The exchange will not offer derivatives products in Brazil, as the country’s securities and exchange commission (CVM) requires special licenses for those services.
Bitget currently operates in Argentina, Colombia, Mexico and Venezuela, InfoMoney reported. The company says it has more than 2 million users in 50 countries. The exchange plans to increase its headcount to 1,000 employees by the end of the year, despite volatile market conditions.
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