Episode #88: Bitget Builds in Brazil with Vugar Usi

Brazil Crypto Report

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Episode #88: Bitget Builds in Brazil with Vugar Usi

Incoming Chief Operating Officer joins to discuss the exchange's Lionel Messi partnership, Brazil and Latam expansion strategy, and more

Aaron Stanley

Feb 16, 2024

Transcript

No transcript...

Olá pessoal!

As we enter (hopefully) a bull market in 2024, Brazil is shaping up to be a battleground for global crypto exchanges looking to expand to new markets.

Bitget, one of the largest exchanges in the world, is among these players.

Best known for its partnership with Argentinean football superstar Lionel Messi, Bitget serves more than 20 million users across 100+ countries.

In this conversation, Chief Operating Officer Vugar Usi details Bitget’s expansion strategy in Brazil and Latin America in 2024. Here are some key highlights from the interview:

The exchange aims to grow its 200 person Latin America team by 50 percent in 2024 as a strategic priority
The origin of Bitget’s partnership with Messi and how the footballer has helped bring the brand’s recognition globally
How emerging markets like Brazil and Latin America present major opportunities for crypto growth compared to more restrictive regulatory environments like the U.S. There is strong existing crypto adoption, education, and interest in the region
The company’s current product suite for all types of users, including copy trading, a Web3 wallet, Bitget payment cards, etc.
Bitget’s push to build itself into a lifestyle brand that builds long-term partnerships with users, rather than just a place to trade crypto.
How its user acquisition strategy focuses on word-of-mouth and influencer/ KOL marketing rather than paid advertising. Bitget works with hundreds of thousands of influencers globally to attract their audiences and plans to continue that strategy in the region
On the compliance front, Bitget is looking to build trust with users and regulators through proof of reserves, insurance funds, and transparency
Major competitors like Binance and FTX stumbling represents an opportunity for Bitget to gain market share with its strong brand reputation.
How emerging markets tend to be more flexible on crypto regulation versus Western markets. Bitget avoids the U.S. market currently due to its restrictive stance.