Binance has secured its 21st global regulatory authorization from Banco Central do Brasil (BCB), the central bank of Brazil, in a significant milestone for crypto adoption in Latin America.
Binance, the world’s largest crypto exchange, was approved as a licensed broker-dealer in Brazil, the most populous country in Latin America.
The approval allows Binance to acquire São Paulo-based investment platform Sim;paul, a licensed broker-dealer authorized to distribute securities and issue electronic money (EMI), according to an announcement shared with Cointelegraph.
The approval makes Binance the first crypto exchange to have a broker-dealer license in Brazil.
Top crypto exchanges by 24-hour trading volume. Source: Messari
The 24-hour trading volume on Binance exceeded $18.2 billion at the time of publication, nearly triple Bybit’s $6.3 billion daily volume in second place, according to data from Messari.
This is a developing story, and further information will be added as it becomes available.
