Brazil Expansion Is “Central Focus” for Coinbase The crypto exchange giant
Coinbase says that Brazil has “become a central focus” in its “global growth strategy.” The Brazilian media outlet Livecoins said Coinbase recognized
“Brazil’s growing importance in the cryptocurrency market.” And it said the exchange was gaining confidence
“in the country’s economic and technological potential.” Coinbase stated that Brazil and other nations were “making progress in crypto regulation.” The exchange operator
has set itself the ambitious goal of building a global user base of 1 billion people. The firm reportedly noted that Brazil’s “evolving regulatory environment”
and “one of the highest cryptocurrency adoption rates” in the world were also motivating factors. The exchange said these and other reasons had made Brazil
“a crucial market” for company expansion. Fábio Plein, Coinbase’s Regional Director,
was quoted as saying: “To operationalize the diversification of our business globally, we are following our ‘Go Broad, Go Deep’ expansion strategy. We are aligning with government involvement in the crypto economy. Our goal is to reach 1 billion users globally. And Brazil is a crucial market on the path to achieving this milestone.”
