Binance Opens Two New Offices In Brazil As Growth Continues

Twitter icon  •  Published hace 1 año  •  Hassan Maishera

Leading crypto exchange Binance has opened two new offices in Brazil to provide services to its 34 million customers in the country.

Binance, the world’s leading cryptocurrency exchange, announced earlier this week that it had opened two new offices in Brazil. This latest development comes as the crypto exchange continues to expand its presence in the South American country.

The crypto exchange revealed that it has more than 150 employees to cover its operations in Brazi and is currently in good standing with regulatory agencies in the country. 

Binance has more than 34 million users in Brazil, one of the leading economies in South America. According to its announcement on October 3rd, Binance has now opened offices in São Paulo and Rio de Janeiro, with more than 150 employees to handle activities in Brazil. 

In its announcement, Binance said;

“The exchange operates in full compliance with the Brazilian regulatory landscape and believes that regulation is the only way for the digital asset industry to grow and reach the general public, allowing more people to enjoy the benefits that cryptocurrencies and blockchain offer.” 

Changpeng Zhao, Binance’s CEO, revealed in March that the crypto exchange was working on a Brazilian expansion. Binance has doubled its workforce in Brazil since then. 

This latest development comes a few days after Binance signed a Memorandum of Understanding with the Financial Monitoring Agency of the Republic of Kazakhstan. The crypto exchange is working with authorities in Kazakhstan to fight financial crimes. 

The two parties will work together to identify and block virtual assets obtained by criminal means, as well as those intended for the legalization (laundering) of proceeds from crime and the financing of terrorism.

The expansion in Brazil also comes a few days after Binance gained regulatory approval in New Zealand. Binance revealed last week that it had registered its services with the New Zealand Ministry of Business, Innovative and Employment (MBIE) on September 10th.

Last month, Binance hosted various crypto and blockchain workshops for law enforcement agencies in Argentina and Brazil. The workshops were designed to help the agencies identify and fight crypto crime. 

Binance’s recent expansion in Brazil and more positive Binance reviews ensure that the cryptocurrency exchange further cements its place as the world’s leading digital asset trading platform.

Author

Hassan Maishera

Hassan is a Nigeria-based financial content creator that has invested in many different blockchain projects, including Bitcoin, Ether, Stellar Lumens, Cardano, VeChain and Solana. He currently works as a financial markets and cryptocurrency writer and has contributed to a large number of the leading FX, stock and cryptocurrency blogs in the world.