Gleec BTC Exchange has completed a major acquisition that will allow it to strengthen its footprint in what is now one of the most lucrative markets in the industry. This is because cryptocurrency adoption in Brazil is rising at a rapid rate. After acquiring a readymade platform called Blocktane, Gleec BTC Exchange is getting poised to make a huge impact on the Brazilian market.
In the year 2020, Blocktane positioned itself to become one of Brazil’s most prominent cryptocurrency exchanges, and it created a strong foothold in the country’s market. Gleec BTC Exchange, which was also established in 2020, has announced that it is going to merge Blocktane’s assets into its own platform.
It has recently acquired the rights to Blocktane’s legal entities, brand name, online properties, data, BKT token supply, treasury inventory, and former local management. John Willock, former Executive Chairman of Blocktane, said, “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.”
Tapping Into Rising Crypto Adoption In Brazil
This decision was made at a time when the adoption of cryptocurrencies in Brazil is rapidly gaining pace. The country is regarded as one of the most crypto-friendly countries in the world, with a population of more than 200 million individuals that are tilted toward a younger age. In recent weeks, the government of Brazil passed new laws that lay the groundwork for a regulatory framework that will come into force in 2023, thereby making cryptocurrency payments legal in the country.
As a direct consequence of this, Brazil is well-positioned to establish a position as one of the global markets for cryptocurrencies that is expanding at the quickest rate. In point of fact, there is a wealth of data to suggest that cryptocurrency has already won over the affection of a sizable portion of Brazil’s population. It is generally accepted that younger age groups are more receptive to cryptocurrency.
Furthermore, data from Coinmap and other sources suggest that more than 900 Brazilian firms currently accept cryptocurrencies as a form of payment, and the new regulation will undoubtedly drive this number higher. Examples of such cryptocurrencies include Bitcoin and Ethereum. Gleec BTC Exchange has stated that it is planning to enter the Brazilian market over the next few weeks in order to launch operations there.
It is also intending to introduce support for the Brazilian real, which is the country’s local currency, at some point in the future. Nevertheless, it is unclear at this time whether or not Gleec will try to introduce any of its other services in Brazil. In addition to the Gleec BTC Exchange, the company has also developed a mobile payments app known as Gleec Pay and runs a digital point-of-sale service known as Gleec SV for companies who want to accept cryptocurrencies.
A More Streamlined Crypto Trading Experience
The market for trading cryptocurrencies is getting more robust on a day-to-day basis. In tandem with the industry’s transition into a new phase, a flood of newly established cryptocurrencies has begun to enter the market. The environment of cryptocurrencies can be difficult to navigate, especially for beginners. Potential investors are even more confused and apprehensive as a result of the abundance of fraudulent activities in this market, which comes as a direct result of the lack of reliable and measurable evaluation criteria.
Gleec BTC Exchange is a secure platform that allows users to buy, sell, trade, and store a variety of different currencies. In October, the platform made an announcement that it has added support for more than 100 different cryptocurrency pairs. Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Tron (TRX), Cardano (ADA), Cosmos (ATOM), and Ripple (XRP) were reportedly some of the cryptocurrencies that were featured in the new listings.
Gleec BTC Exchange asserted that the added feature will allow the company to satisfy the ever-increasing market competition as well as the demand of its expanding customer base. It was also said that one of the goals of the growth is to assist the company in becoming one of the leading crypto trading platforms. In addition, the exchange guaranteed its customers an improved and more productive trading experience.
As a direct result of this, Gleec BTC Exchange currently supports more than 150 different trading pairings, which include digital assets such as Bitcoin, Tether, and its own native currency, GLEEC. Now, as a result of a significant acquisition that Gleec BTC Exchange has made of Blocktane, the platform will strengthen its presence in what is now one of the most competitive markets in the industry.
