Binance Acquires Sim;paul, Gains First Broker-Dealer License in Brazil with Central Bank Approval

Jan 2, 2025, 01:21 PM

Binance, the world's largest cryptocurrency exchange, has secured approval from the Central Bank of Brazil to acquire Sim;paul, a local licensed broker-dealer. This acquisition marks Binance's 21st global regulatory milestone and positions it as the first crypto exchange to hold a broker-dealer license in Brazil. The approval enables Binance to offer enhanced financial services and aligns with the country's growing crypto market. Binance CEO Richard Teng emphasized the company's commitment to compliance and security, aiming to provide a secure and innovative platform for local users in Brazil, a market with increasing crypto adoption.