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Dubai-based cryptocurrency exchange Bybit is launching services and a local team in Brazil, the company announced Thursday.

Bybit's move into Brazil opens its “expansion across Latin America,” the company said in a statement.According to Bybit, Brazilian users will be able to acquire crypto using Brazilian reals through transfers via PIX, a real-time retail payment system launched by the Brazilian Central Bank. In addition to spot crypto trading, the company will offer earning products and an NFT marketplace.“Brazilians highly value their experience with the services they use. When it comes to investments, we know that we will only be successful by offering world class liquidity and reliability that users expect of Bybit,” the company said in a statement.Of the crypto transactions bill approved by Brazil’s Senate on Tuesday, Bybit called it “a promising step forward in regulatory clarity.”Global crypto exchanges consider Brazil as a big prize in 2022, with Coinbase in talks to acquire Mercado Bitcoin – the country’s largest crypto exchange – and Binance looking into acquiring banks and payment processors.