THE DAILY ENCRYPT

October 3, 2022

Binance Expands its Presence in Brazil With Two Offices

Binance, the largest crypto exchange by volume traded has announced expansion plans for Brazil. Two new offices will be opened by the exchange in Brazil...
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Binance, the largest crypto exchange by volume traded has announced expansion plans for Brazil. Two new offices will be opened by the exchange in Brazil to house 150 employees. They will have the option to work remotely or in-office. In the future, the company may launch a debit card.

Latam countries such as Brazil are increasingly important to cryptocurrency exchanges around the world due to the crypto boom. Binance, a leading cryptocurrency exchange, recently announced that it would open two offices in Brazil. According to reports, employees will be able to choose whether they want these offices or work remotely.

Binance will open two new offices for its teams in Brazil

These new offices will be in Rio de Janeiro, and Sao Paolo. They will serve as co-working spaces for employees of Binance Brazil. The company was only 60 people at the start of the year, but this has now increased to 150.

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Although Binance has had to deal with compliance issues in Brazil in the past, the exchange is now working hard to make Brazil compliant. The company also announced in March the purchase Sim;paul Investimentos to be a regulated Brazilian payment institution. This operation is still being analyzed by the central bank.

Binance also looks to launch its debit card

Matthew Shroder (global vice president and regional director of Binance) stated the following:

We are taking proactive steps to make sure that we comply with the requirements to be able to operate as a cryptocurrency exchange even before the new regulations take effect.

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Due to the October general elections, which will take place in October, the Brazilian cryptocurrency bill is still under discussion by Congress.

Shroder also suggested that a Mastercard product would be launched to allow Brazilians to use cryptocurrencies to pay using a debit card. This is similar to the one that was launched in Argentina last month. He explained that:

We are already seeing positive results in Argentina. We are still evaluating the next markets. But, given the importance of Brazil to Binance and the size of this market, Brazil is certain to be the most important.

Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".
Felipe Rodriguez

Felipe Rodriguez

Felipe states he has super powers, some argue that case but he does come up with some very clear predictions. Felipe is based in the US and frequently travels to Brazil where he was born. He is a journalist of the future and has a portfolio of crypto projects he has worked with. Felipe always says "The future doesn't scare me as much as the past, crypto is here to stay but only time will tell where it will take us".

© 2022 The Daily Encrypt. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

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