Dubai-based company Bybit has announced the expansion into, and launch of a dedicated team in, Brazil to offer cryptocurrency trading and earning services. Bybit presents itself as the world’s third most visited crypto exchange, with more than six million users. The company says it transacts over $10 billion in digital assets per day.
Bybit will offer a one-stop crypto shop, with products and services rendered in the Brazilian Portuguese language and inflected with local preferences, targeting both the first-time user and the long-time investor. Among these offerings are spot trading, through which users can buy and sell crypto; earning products including dual asset investments that generate yields with a static annual percentage yield; and an NFT marketplace.
According to the company, the debut in Brazil marks the first step toward expansion across Latin America. Bybit arrives in the country at the time that the Brazilian senate just passed a bill to regulate cryptocurrency transactions in the country, which, in Bybit’s vision, attests to the growing demand for digital assets among Brazilian investors and is a promising step forward in regulatory clarity.
“As crypto adoption goes mainstream, it is crucial for us to deliver next-level trading experiences to all crypto investors. Brazilians highly value their experience with the services they use. When it comes to investments, we know that we will only be successful by offering world-class liquidity and reliability”, said the company in a statement.