Bitget is implementing its ambitious plans to dominate the Latin American cryptocurrency market. With its strategic partnership with Lionel Messi and commitment to innovation, the cryptocurrency exchange is strengthening its presence in the region.
Bitget plans to expand its local team and focus more on products for newcomers. To this end, Bitget is capitalizing on the interest in soccer, especially in Latin America, by partnering with Lionel Messi.
His influence on millions of people, Bitget believes, will help attract local traders to its offering by leveraging their love of soccer and respect for Messi.
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Bitget is currently in the top 15 of global cryptocurrency exchanges in terms of trading volume. The exchange shows a clear ambition to move higher in this ranking and is expanding its reach into new markets where it can get a bigger slice of the cryptocurrency pie, according to Bnn.breaking.
Maximiliano Hinz, the company's Regional Director of Growth, said Latin America is an interesting target for Bitget, although the region is currently dominated by exchanges such as Binance and Bitso. Bitget plans to double its workforce in the region from 80 to 160 over the next two years.
The company also plans to launch its own cryptocurrency debit card, which insiders say is already being tested. It will soon be ready for launch in all regions.
Maximiliano Hinz believes the key to expansion in Latin America will be Copy Trading, a feature that allows users to copy the trading moves of more experienced traders and investors.
"Currently, you either have to buy cryptocurrency for the long term or you have to be an expert. But most people who trade on our platform have other jobs. We want to offer an alternative," he explained.
The exchange is facing increased regulation in Latin America, particularly in Brazil, the region's biggest industry player. Brazil's central bank is drafting new licensing and consumer protection rules in the wake of FTX's collapse. Brazil plans to introduce rules that virtual asset service providers (VASPs) will have to follow.
"In the case of Brazil, we want to act in accordance with the requirements of the regulator. Brazil is very important to us," noted Hinz.
Read also: Binance introduced leverage limits on its platform
