Binance, the world’s largest crypto exchange by trading volume, has secured a broker-dealer license in Brazil, giving it a strong foothold in the Latin American region. This approval from Banco Central do Brasil, the central bank, marks Binance’s 21st global regulatory authorization and positions the exchange as the first of its kind in the country.
This significant development allows Binance to acquire São Paulo-based investment platform Sim;paul, a fully licensed broker-dealer authorized to distribute securities and issue electronic money (EMI).
With this acquisition, Binance has the ability to operate within Brazil’s regulatory framework as a fully compliant financial institution, offering a broader range of services to its users.
While Binance already boasts impressive trading volumes—exceeding $18.2 billion in 24 hours at the time of publication, nearly triple its closest competitor, Bybit, according to Messari data—this new license signifies a crucial shift. It moves Binance beyond simply being a platform for trading digital assets and into the realm of traditional financial services within Brazil.
This regulatory approval is a major win for the crypto industry in Brazil, the most populous country in Latin America. It provides increased legitimacy and trust in the market, potentially opening the doors for wider adoption by both institutional and retail investors.
By obtaining this license, Binance has not only solidified its position as a global leader but has also set a precedent for other crypto exchanges looking to operate within regulated financial systems.
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