Binance has received approval from Brazil’s central bank to acquire Sim;paul, marking its 21st regulatory milestone. This move enhances Binance’s influence in Latin America’s thriving crypto sector, further establishing it as the leading licensed crypto exchange globally.

CEO Richard Teng emphasized the importance of this approval in promoting crypto adoption within Brazil. Ranked 10th globally for crypto adoption, Brazil presents a ripe market for digital engagement. The new license aligns with Binance’s strategy to adhere to local regulations and broaden its international reach.