Binance Wins a Broker-Dealer License in Brazil

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Binance has achieved its 21st regulatory approval globally, as the central bank of Brazil, Banco Central do Brasil, has officially authorized the platform. This marks a significant step towards the adoption of crypto in Latin America.

The world’s biggest crypto exchange has been licensed as a broker-dealer in Brazil, the most populous country in the region. This approval allows Binance to acquire Sim;paul, an investment platform based in São Paulo that is authorized to distribute securities and issue electronic money (EMI), according to a recent announcement.

This regulatory approval makes Binance the first crypto exchange to obtain a broker-dealer license in Brazil, cementing its leading position in the market.

Currently, Binance’s 24-hour trading volume is over $18.2 billion, almost triple that of Bybit, which is in second place with a daily volume of $6.3 billion, according to Messari data.