The Central Bank of Brazil has granted regulatory approval to Binance, the largest cryptocurrency exchange in terms of trading volume.
This is the 21st regulatory milestone for Binance, further solidifying its position as the most licensed exchange in the world.
Through this approval, Binance can now acquire Sim;paul, a licensed broker-dealer in the largest economy in Latin America. This partnership allows Binance to strengthen its compliance and operational efficiency in Brazil’s growing regulatory market.
As a licensed broker, Sim;paul is authorized to distribute securities and issue electronic money, giving Binance an ideal opportunity to expand its services while following local regulations.
Binance CEO Richard Teng emphasized the crucial role Brazil plays in their global expansion strategy, while Head of Latin America Guilherme Nazar highlighted the significance of this milestone.
Nazar stated that this achievement demonstrates Binance’s commitment to regulatory excellence and their ability to cater to Brazil’s growing cryptocurrency community. They are eager to drive digital asset adoption and bring value to their clients.
