Bitbase, a Spanish-based cryptocurrency exchange and ATM company, is set to open operations in Venezuela this year.
Latin American countries have become an attractive fate for cryptocurrency exchanges and companies due to the relevance that crypto assets have reached in some countries. Bitbase has announced that it will expand into Latin America by opening a store in Paraguay. The company, which previously opened a store in Portugal, is now expanding its operations to Venezuela.
Bitbase Expands Operations to Venezuela
While the current bear market is negatively impacting some crypto firms, others are opening up to new countries to capitalize on the popularity of crypto.
Bitbase has announced that it has begun recruiting for its store and crypto ATM operations in Venezuela. Thus, the company will have the title of being one of the first international exchanges to open an office in the country.
Enrique De Los Reyes, Bitbase’s director in Venezuela, said:
“We are going to Venezuela very, very strongly this year. With all the licenses we need to operate in Venezuela, we continue to work hard, which will soon bear fruit. We want proper mass adoption (good use) of cryptocurrencies.”
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