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Spanish Crypto Exchange Bitbase Expands To Latin America
With the opening of a location in Paraguay, Bitbase, a Spanish cryptocurrency exchange and ATM operator, announced its entry into the Latam market.
Himanshu S.
3:34 15th Jul, 2022
Adoption

The business, which had previously launched a site in Portugal, is now expanding to numerous locations in Paraguay and has Venezuela in mind as the next country to enter as part of its development ambitions.

Some bitcoin companies have been negatively impacted by the current bear market, but others are expanding to other regions in an effort to benefit from the popularity of cryptocurrencies. The opening of Bitbase's first location outside of Europe has been announced. Bitbase is a cryptocurrency exchange that provides help in physical locations. Recently, the firm established a new location in Paraguay where it would provide assistance to clients looking to enter the cryptocurrency market.

Additionally, the store will offer a cryptocurrency ATM where clients may buy or sell bitcoin and other cryptocurrencies for paraguayan fiat money. According to Bitbase, this will be the first store of its sort to open in the nation, with other locations soon to follow in other Paraguayan cities. Additionally, Bitbase oversees a sizable number of cryptocurrency ATMs throughout many European cities, accounting for 6% of all ATMs on the continent.

The exchange's development ambitions, though, go much farther. According to rumours from the business, Venezuela will be the next nation on the expansion roadmap, and there Bitbase hopes to construct a site similar to the one that just opened in Paraguay. The exchange began its journey into international development in January when it launched its first site outside of Spain.

Back in February, the corporation expressed interest in expanding into Venezuela. Due to Venezuela's clear cryptocurrency legal framework, it was revealed at the time that Bitbase representatives were in negotiations with officials in the government about bringing bitcoin ATMs to the nation. The outcomes of these discussions have not yet been made public.

Although the United Nations recently named Venezuela the nation with the third-highest adoption of cryptocurrencies, Venezuela has a robust crypto ecosystem despite the fact that bitcoin ATMs have not gained much traction. Bitbase thinks that by providing real locations with assistance and taking a unique approach to cryptocurrencies, it may attract people to the crypto ecosystem who otherwise might not do so.

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