Mercado Bitcoin, the leading cryptocurrency exchange in Latin America, reaches a major milestone by obtaining approval from the Central Bank of Brazil to operate as a payment institution.
The company’s ambition is to offer innovative financial services, combining the potential of cryptocurrencies to traditional financial services.
Mercado Bitcoin obtains approval from the Central Bank of Brazil as a payment institution
Founded in 2013, Mercado Bitcoin is an exchange platform that claims a base of 3.7 million customers. It has just obtained the approval of the Central Bank of Brazil, which, alongside the Brazilian Securities Commission (CVM), plays an essential role as a regulatory body. This authorization now allows it to operate as a payment institution, benefiting from the status of electronic money issuer.
Mercado Bitcoin, the leading cryptocurrency exchange in Brazil, has obtained a payment institution license from the country’s central bank on Friday, according to a report by the newspaper Valor Economico. This authorization allows the company to operate legally as a payment institution, with the status of electronic money issuer.
“The central bank’s approval is an important milestone, as it allows us to continue with our business expansion plans to provide an even more comprehensive experience for our customers,” Roberto Dagnoni, CEO of Mercado Bitcoin, said in a statement. A declaration. Source: coindesk
The exchange had anticipated this authorization by recently launching the MBpay application, offering users a digital account to access various assets (crypto, NFT, fan token…). This facilitates digital asset management, transactions and provides a streamlined user experience. The initiative aims promote the adoption of digital assets in Brazil by offering a user-friendly platform.
Roberto Dagnoni also mentioned that the platform plans to offer financial services that combine the potential of cryptocurrencies with traditional financial services. Among the upcoming projects, the establishment of a crypto payment card in the coming months is planned.
Adoption and popularity of cryptocurrencies in Brazil
In Brazil, cryptocurrencies have grown in popularity in recent years, but their adoption is not yet widespread. The operation of cryptocurrencies in the country is based on a solid digital infrastructure, cryptocurrency exchanges such as Mercado Bitcoin and an active community of users.
As a reminder, cryptocurrencies obtained the legal status of means of payment in Brazil last December, which is a significant step forward, especially for crypto companies obtaining payment institution approval.
Some people in Brazil have embraced cryptocurrencies as means of payment and investmentenjoying the decentralization, security and ease of transactions offered by cryptocurrencies.
However, it is important to note that adopting is not yet widespread throughout the Brazilian population.
Sources: coindesk, bfmtv
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