While the current bear market has had a detrimental impact on some cryptocurrency companies, others are expanding to other regions to profit from the popularity of crypto. Bitbase, a cryptocurrency exchange with in-person service, has announced opening its first location outside Europe. The business just launched a new location in Paraguay, where it will assist 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 rumors from the business, Venezuela will be the next nation on the expansion roadmap, and 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 even though bitcoin ATMs have not gained much traction.
Bitbase thinks that providing real locations with assistance and taking a unique approach to cryptocurrencies may attract people to the crypto ecosystem who otherwise might not do so.
