Ordem and Progresso in crypto – Service provider on digital assets in Francea major payment institution for digital token services at Singapore or financial services license in Australia. What do these sometimes barbaric names have in common? It is licensessometimes called approvalswhich are essential for companies wishing to offer cryptocurrency in a given country. After several years of Wild West, as Gary Gensler would say, it is time to restore order in this small world with a lot of regulation and authorizations. Today we go to Brazil Or Bitcoin Mercado has just obtained an important license for its future.
Order and Progress: the country’s currency sticks rather well to crypto
THE terra disasters (LUNA) and FTX will have left such a landscape of desolation behind them that the authorities could not sit idly by. Already inclined to regulate a sector that is sometimes too anarchic, regulatory bodies around the world have entered the arena and seem determined to restore order in this sector where progress is a cardinal value. United States, Europe, but also Southeast Asia: not a continent is spared by the phenomenon. South America’s largest, crypto-friendly country has also paved the way for companies that want to sell bitcoins to local consumers.
In this country there is a authorisation to be a payment operator issuing electronic money. This precious sesame is delivered by the central bank from Brazil, more particularly by the Financial System Organization department. The Official Journal published the news at the end of last week.
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Mercado Bitcoin increases its presence in Brazil and is full of ambitions
With this authorization in hand, Mercado Bitcoin (MB) will launch a new entity which will be called MB Pay. The idea is to develop a online bank with a payment card and various associated financial services. As a reminder, Mercado Bitcoin belongs to the 2TM company which owns other crypto-related companies, such as Bitrust or Blockchain Academy.
MB Global CEO, Roberto Dagnoniwas delighted with this announcement in the financial press of Brazil:
“The Central Bank’s approval is an important milestone as it allows us to continue our business expansion plan to provide an even more comprehensive experience to our customers. »
Indeed, by being in the nails of the national regulator, the most important crypto platform of the subcontinent hopes to be able to come compete with traditional finance on his own ground. The company’s ambition is to become a Financial institution like the others. On the borders of FinTech, online banking and the exchange, it is a question of offering hybrid services that would bring together the best of both worlds.
Because yes, to try to conquer the general public, we will have to offer the crypto in a way secure and reassuring. If we want Mr. and Mrs. everyone to use it on a daily basis, it will be necessary for companies in the sector to put safeguards in place. Finally, we would all like to be able to take advantage of the advantages of crypto, without having to fear its disadvantageslike these repeated hacks which concern both decentralized finance protocols and wallets, like Atomic Wallet.
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