Singapore-based crypto derivatives exchange Bitget has registered in Seychelles as it looks to expand its services.

Last week, the exchange said that it has started operations in Brazil and will allow users to make crypto purchases in Brazilian reals.

Earlier this year, Bitget said it was planning to increase its workforce to 1,000 by the end of the year. The exchange updated its target and said that it is now looking to expand its headcount from 800 at the present to 1,200 by the first quarter of next year.

The Seychelles registration is under the 2016 International Business Companies Act. Bitget said it plans to set up more regional hubs on its expansion roadmap.

"The registration in Seychelles offers a constructive environment for Bitget, enabling us to unlock collaborations with partners and strengthen banking relationships," said Gracy Chen, managing director at the company.

Read more: Singapore-Based Crypto Exchange Bitget Opens Operations in Brazil

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