Largest US Bitcoin Exchange Expands Presence in Brazil

Largest US Bitcoin Exchange Expands Presence in Brazil

Coinbase, the largest cryptocurrency exchange in the United States, is gradually expanding its presence in Brazil, with yet another recent move garnering attention.

It is already more than clear that the brokerage will soon arrive in the country with its operation, but there is no fixed date yet. Still, several job postings published by the brokerage in the country indicate that the team is still building up ahead of the arrival.

Regulated, first listed on the US exchange and pioneer in the cryptocurrency market founded in 2012, the brokerage should be another targeted presence in Latin America after the adoption boom the region has experienced in this market.

“Roseta” is an application launched by Coinbase in 2020

In 2020, Coinbase published the launch of its solution called Rosseta, created with the idea of ​​getting through the integration problems with the various blockchains already created in the world.

Some of the most famous are Ethereum, Solana, Cardano, Binance Smart Chain. In the case of Coinbase with its application, it allows better integration of the Filecoin, Celo, Near, Oasis, Coda, Ontology, Kadena, Handshake, Blockstack and Sia networks.

This solution, made with open source and available on GitHub, then fights for greater creation of so-called cross-chain applications, i.e. applications with greater interoperability.

“The number of blockchains has grown tremendously in recent years, creating a proliferation of different node and wallet APIs that are difficult to navigate. The goal of Rosetta is to standardize the interaction with blockchains, making it easier for everyone to build on top of a blockchain for different use cases.”

Coinbase App Registration In Brazil Shows Another Step Towards the Country?

And it is with this blockchain integration solution that Coinbase is increasing its presence in Brazil as the industry giant asked the INPI to register the brand in the country. This registration application has been submitted on an international basis, following the Madrid Protocol.

As the application is still in the early stages, there is a period to challenge the registration. If approved, the company will place another registration in Brazil, showing that it is monitoring the country’s market.

“Providing technological information in the field of blockchain, digital currency and cryptocurrency through a website; provision of non-downloadable online computer software for use in configuring and integrating blockchains.”

Rosseta is the new Coinbase app registered in Brazil - Livecoins
Rosseta is the new Coinbase app registered in Brazil. Access to INPI by Livecoins

It is worth noting that Coinbase is an integral part of the Celo blockchain, one of the blockchains that Rosseta supports. Since this network already has a strong community in Brazil and even a stablecoin denominated in Brazilian real, cREAL, the new registration request may also be related to this solution.

Anyway, a new tool produced by the largest brokerage firm in the United States is trying to legalize its brand in the country to offer its services.

Source: Live Coins