Crypto exchange Bitget (BGB) announced its partnership with the fintech company Capitual to participate in Brazil’s Central Bank Digital Currency (CBDC) project.
Capitual is amongst the main partners of Brazil’s Central Bank, which assist the institution with exploring CBDCs.
As reported in January, Brazil and Argentina are considering launching a joint CBDC protocol. The duo is also aiming to develop a common strategy for their region.
Bitget is also looking to take advantage of this connection and pursued Capitual to participate in Argentina’s CBDC endeavors. In addition to playing a role in the CBDC projects, the exchange also aims to strengthen ties with the region and extend its reach to “government-level” initiations.
Bitget’s Managing Director, Gracy Chen, commented on the exchange’s goals regarding the region and said:
“Latin America is a market with a strong potential for growth for our business, and we would like to place more focus on the region and better understand the market in our future roadmap…
We also appreciate the opportunities to explore CBDC projects with Capitual, and make our contribution on various fronts in the area,”