Binance, the world's largest cryptocurrency exchange, has secured its 21st global regulatory authorization from Banco Central do Brasil, marking a significant milestone for crypto adoption in Latin America.
Approval by Brazil's Central Bank
The Central Bank of Brazil has approved Binance as a licensed broker-dealer, allowing the company to expand its operations in the region.
Acquisition of Sim;paul Platform
With this approval, Binance is allowed to acquire the São Paulo-based investment platform Sim;paul. Sim;paul is a licensed broker-dealer authorized to distribute securities and issue electronic money.
Impact on the Crypto Market
The approval makes Binance the first cryptocurrency exchange to have a broker-dealer license in Brazil. At the time of publication, Binance's 24-hour trading volume exceeded $18.2 billion, nearly triple Bybit's $6.3 billion.
This development underscores the growing recognition and regulation of cryptocurrency operations in Latin American countries, providing Binance with a strategic advantage in the region.
