Leading cryptocurrency exchange platform Gleec BTC Exchange is seeking to expand in Latin America, beginning in Brazil where it recently acquired Blocktane’s operational assets. For a brief while, Blocktane ranked high in the Brazilian cryptocurrency industry.
Gleec BTC Exchange took the initiative and announced today that it has purchased the whole asset portfolio of Blocktane, taking ownership of the business in the process. It will employ Blocktane’s management to run its new business venture in the nation now that it has ownership of the Blocktane name and the BKT token supply.
A comprehensive exchange platform with more than 100 crypto pairings accessible to trade, Gleec BTC Exchange also began operations in 2020 as a digital wallet. The business has now made the decision that the time is right to broaden its operations internationally, and it believes that Latin America would be a good place to start given the region’s explosive growth in cryptocurrency transactions and thousands of businesses’ widening adoption of the technology.
“We are pleased to partner with Gleec to bring their tool and products to Blocktane’s users in Brazil, and their first entry into that domestic market,” said John Willock, former Executive Chairman of Blocktane.
Brazil’s own government has taken steps to welcome the technology, which is one of the reasons Latin America is starting to embrace cryptocurrency. It has said that it is establishing a new regulatory framework that would lead to the legalization of cryptocurrency payments in the nation by the beginning of next year. Brazil is positioned to become one of the world’s crypto economies with the fastest growth rates given its population of more than 200 million.
There is no question that Gleec BTC Exchange’s entry into Brazil is positive for the remainder of the organization’s ecosystem. In addition to running an exchange, it also provides cryptocurrency payment systems like Gleec Pay and Gleec SV, the latter of which is a well-liked point-of-sale system that has gained considerable traction in El Salvador, a country where Bitcoin is recognized as legal cash. The blockchain-based racing game Gleec Racing, developed by Gleec, has become very popular among enthusiasts of motorsports.
In the near future, Gleec BTC Exchange said that it aims to launch in Brazil within a few weeks. Adding the Brazilian Real to its list of accepted fiat assets is one of its first objectives. Additionally, the business will attempt to grow its staff by bringing in local Web3 developers and other experts.