Cryptocurrency exchange Binance plans to buy Brazilian securities broker Sim; paul Investimentos, licensed by the Brazilian Central Bank and the Securities and Exchange Commission.
According to Bloomberg, there are still few details about a possible deal, but if an agreement is reached, Binance will have to get the approval of Brazilian regulators, including the Central Bank of Brazil. Exchange CEO Changpeng Zhao said:
“The goal of Binance is to popularize and spread cryptocurrencies around the world so that our users feel the positive impact of this, as well as the cryptocurrency community, and society as a whole. In a booming market like Brazil, cryptocurrencies can change and make people’s lives easier, so we believe that with full cooperation with local governments, Binance can make a big contribution to the development of the community and ecosystem in Brazil.”
It should be noted that Sim; paul Investimentos was founded in 2019, and in the fall of 2020, the broker received a license from the Central Bank of Brazil, and began to provide services in December 2020.
Binance is trying to expand its presence in a wide variety of markets as much as possible. She previously obtained a license to operate in Bahrain and is now working on licensing activities in the UAE.
Source: Bits
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