Mercado Bitcoin, the cryptocurrency exchange platform, reaches a major milestone by obtaining the approval of the Central Bank of Brazil to operate as a payment institution. In an ever-changing competitive environment, this authorization enables Mercado Bitcoin to offer its 3.7 million users services combining cryptocurrencies and traditional finance.
Brazil’s Central Bank gives the green light to Mercado Bitcoin
Brazil continues to make its mark in the cryptocurrency arena. Recently, Bitfy, in partnership with Brazilian bank Banco do Brasil enables taxpayers to meet their tax obligations. This initiative provoked strong reactions.
In this dynamic context, Mercado Bitcoin, a major crypto company in Latin America, founded in 2013, has just receive authorization special authorization from the Central Bank of Brazil to become a payment institution, with the status of issuer of electronic money.
This crucial step, carried out in collaboration with the Brazilian Securities Commission (CVM) will enable Mercado Bitcoin to offer innovative services and develop solutions integrating cryptocurrencies and traditional financial services.
The CEO from Mercado Bitcoin, Roberto Dagnoni, emphasized the importance of this central bank approval, which will enable the company to continue its expansion.
The central bank’s approval is an important step, as it allows us to pursue our business expansion plans to offer an even more complete experience to our customers.Statement from Mercado Bitcoin CEO
This approval will strengthen Mercado Bitcoin’s position in the Brazilian market. The company will finally be able to meet the growing needs of its customers, combining the advantages of crypto with the ease of use of traditional financial services.
Anticipating this authorization, Mercado Bitcoin recently launched the MBpay, a digital account offering easy access to a variety of assets such as cryptocurrencies, non-fungible tokens (NFT) and fan tokens. This initiative aims to simplify the user experience and expand their investment portfolio.
Brazil, a favorable environment for the crypto sector
Brazil offers a favorable environment for cryptocurrencies, attracting many companies in the sector. In addition to Mercado Bitcoin, other companies have obtained authorization from the Central Bank to operate in the country.
Recently, Latam Gateway, a payment provider, specialized in assisting foreign companies operating in Brazil, also obtained a similar license. This success led Binance to choose Latam Gateway as a partner in the Brazilian market.
Brazil has long presented a strong appetite for the adoption of Bitcoin and other cryptocurrencies. As in United Arab Emirates, cryptocurrencies are playing a growing role in the Brazilian economy.
Coming from a journalism university background, I came across Bitcoin and cryptocurrencies not long ago.
The potential of the Blockchain seduced me and I made it my research topic.