Cryptocurrency exchange Binance has announced plans to expand in Latin America, which will open two offices in Brazil and consider issuing a debit card for the region.
The two new offices in Rio de Janeiro and Sao Paulo will be a co-working space that can accommodate all 150 employees of the exchange. Note that at the beginning of the year, the staff of Binance consisted of only 60 people. At the same time, the exchange will give employees a choice: stay to work from home or go to the office.
In addition, Binance is considering issuing a debit card in this region. To do this, the exchange bought securities broker Sim;paul Investimentos, making it a regulated payment institution in Brazil.
According to Binance Vice President and Regional Director Matthew Shroder, the launch of the Mastercard product will allow Brazilian citizens to pay with cryptocurrencies using a debit card similar to the one launched in Argentina a month ago.
“According to the first results we got in Argentina, the product is a great success. Now we are evaluating how the market will behave in the near future. But given the size of the Brazilian cryptocurrency market, it is undoubtedly in a priority position for Binance,” said Schroeder.
Binance previously received a permanent minimum viable product (MVP) license from the Dubai Virtual Assets Regulatory Authority (VARA).
Source: Bits
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