Gleec BTC targets the Brazilian crypto market

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One of the fastest growing crypto hotspots right now is the country of Brazil. To take advantage of the growing adoption in the country, Gleec BTC Exchange made a significant acquisition. This will strengthen its presence in what is now a geographical hotspot for the industry.

Crypto in Brazil Brazil is rapidly adopting blockchain technology

Brazil has a young population of 200 million people who have shown great interest in the industry. Studies have shown that younger populations are more likely to adopt cryptocurrencies.

Moreover, they also already have a strong blockchain infrastructure. Brazil has online crypto exchanges, physical locations to buy and sell crypto, and Bitcoin remittances through Bitso. They now have the support of the Brazilian government as well.

Just a few weeks ago, the Brazilian government passed a bill that would regulate the use of cryptocurrency as a means of payment across the country, giving a significant boost to crypto adoption in South America.

Currently, more than 900 Brazilian companies already accept cryptocurrencies like Bitcoin and Ethereum as a means of payment. The new legislation should also improve these figures.

To take full advantage of Brazil’s crypto-friendly demographics, Gleec BTC Exchange is now poised to explode into the Brazilian market after buying a ready-made platform from Blocktane.

Gleec BTC Exchange acquires Blocktane

Blocktane established itself as one of Brazil’s leading cryptocurrency exchanges in 2020. Since then, they have established themselves firmly in the country.

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Gleec BTC Exchange has now acquired the rights to legal entities, brand name, online properties and data from Blocktane. They also get BKT token supply, treasury inventory and its old local management. They will now merge all their assets with those of Blocktane.

We are excited to partner with Gleec to bring their tool and products to Blocktanes users in Brazil, and their first entry into this home market, said John Willock, former Executive Chairman of Blocktane.

Gleec BTC in Brazil

Gleec BTC Exchange said it plans to establish operations in the Brazilian market in the coming weeks. In the future, they plan to add support for Brazil’s local currency, the Brazilian Real.

It is unclear whether Gleec will seek to launch its other Gleec Pay or Gleec SV services in Brazil.

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